Term That Pertains to the Income,expenditures,and Resources That Affect the Cost

question 187

Multiple Choice

term that pertains to the income,expenditures,and resources that affect the cost of running a business or household is referred to as (the) __________.

• A) banking
• B) economy
• C) finances
• D) budgeting
• E) money management

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Definitions:

Promissory Note

A financial instrument in which one party promises in writing to pay a determinate sum of money to the other.

Monthly Installment

A fixed payment made every month over a set period to repay a debt.

Accounting Equation

The fundamental formula in accounting that represents the relationship between an entity's assets, liabilities, and equity (Assets = Liabilities + Equity).

Liabilities

Financial obligations or debts that a company owes to others, payable in money, goods, or services.