1) Which of the following are financial documents a business may use to budget? a) Bank Statement b) Pay Slip c) Receipts d) Bill 2) Which of the following would you get from your Employer? a) Bank Statement b) Payslip c) Receipts d) Bill 3) Which of the following do you receive AFTER paying a bill? a) Bank Statement b) Payslip c) Receipt d) Bill 4) If you buy a product from a business, before you pay you will receive a.... a) Bank Statement b) Payslip c) Receipt d) Bill 5) If you spend more money than you have in your bank account, you will have.... a) Income b) Expenditure c) Savings d) Debt 6) If you have money left over in your bank account, you will have... a) Income b) Expenditure c) Savings d) Debt 7) Any money you receive e.g. Pocket Money, Job Wages, or Sales, will be... a) Income b) Expenditure c) Savings d) Debt 8) Any money you spend e.g. Rent, Heating, Groceries, will be a) Income b) Expenditure c) Savings d) Debt

Budgeting Key Terms

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