What is an Opening Balance? - The money you already had at the start of the month., What is Cash In? - The money you gain in that time period. , What is Cash Out? - The money you spend in that time period. , My closing balance becomes the next Opening Balance? - True, Is paying a bill cash in? - False (Cash Out), What would a wage be considered? - Cash In, What is a Closing Balance? - The money left over at the end of the time period. ,

Budgeting Key Terms

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