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Matt's Unit 3 Flashcards
Budgeting
23
Other
12th Grade
10/25/2006

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Cards

Term
a personal budget should be planned for a specfic period? true or false?
Definition
true
Term
you can think of PYF as a bill you owe yourself? true or false?
Definition
true
Term
which one of the following could not be called income? (a) an allowance
(b) a paycheck
(c)intrest paid on a loan
(d)intrest recevied from a savings account
Definition
(c)
Term
true of false a car payment is an example of a variable expense
Definition
false
Term
true of false income and spending must blance each other ?
Definition
true
Term
what is net pay ?
Definition
your total pay after your deductions
Term
take home pay is considered what ?
Definition
net income
Term
money going out is considered what
Definition
expenses
Term
a tax used to provied support to old aged?
Definition
social sercurity
Term
taxes colled by state revenue service
Definition
state deducations
Term
any monmey coming in
Definition
income
Term
what does P Y F mean
Definition
pay your self first
Term
total hours worked times an hourly wage
Definition
gtross income
Term
expenses that change in amount form period to period
Definition
variable expenses
Term
expenses that are the exact same amount every time
Definition
fixed expenses
Term
money taken out od a paycheck by an employer to pay for taxes, health insurance, ect
Definition
payroll deducations
Term
whaty is the purpose of a w-4
Definition
to allow the employer to withhold federal income taxes from the employer
Term
what is a expense
Definition
payment on a bank loan
Term
what is taxes
Definition
money the goverment takes form your pay
Term
what does ytd mean on a pay stub
Definition
[image]
Term
what is over time
Definition
hours worked over 40 a week
Term
what is holiday pay
Definition
pay you recive on holidays such as christams you get payed time and a half.
Term
name a deducation
Definition
i hope you got it right
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