Question

Match each definiton with the correct term. Use your textbook.

Column A
1.
Items of value that a person owns:
Items of value that a person owns
2.
A spending and saving plan based on expected income and expenses:
A spending and saving plan based on expected income and expenses
3.
Assets minus liabilities:
Assets minus liabilities
4.
An accumulation of assets:
An accumulation of assets
5.
Money you have left to spend or safe after taxes and deductions:
Money you have left to spend or safe after taxes and deductions
6.
Debts owed to others:
Debts owed to others
7.
Costs that do not change from month to month:
Costs that do not change from month to month
8.
Costs that can vary each month in both amount and type:
Costs that can vary each month in both amount and type
Column B
a.e. disposable income
b.a. assets
c.j. variable expenses
d.b. budget
e.h. liabilities
f.i. net worth
g.g. fixed expenses
h.k. wealth

Answer 1

Here are the correct matches between Column A and Column B:

1. Items of value that a person owns:
**b. assets**

2. A spending and saving plan based on expected income and expenses:
**d. budget**

3. Assets minus liabilities:
**f. net worth**

4. An accumulation of assets:
**h. wealth**

5. Money you have left to spend or save after taxes and deductions:
**a. disposable income**

6. Debts owed to others:
**e. liabilities**

7. Costs that do not change from month to month:
**g. fixed expenses**

8. Costs that can vary each month in both amount and type:
**c. variable expenses**