Richard and Samantha Are Charting Their Monthly Cash Flow

question 17

Essay

Richard and Samantha are charting their monthly cash flow.They have some expenses like car repairs and vacations that are not paid each month.How can they account for these non-monthly expenses?

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Definitions:

Intended Beneficiary

A person for whom a contract is specifically made and who has the right to enforce the contract terms against the parties involved.

Donee Beneficiary

A third party who benefits from a contract between two other parties, especially in the context of gifts or estates.

Gratuitous Assignment

An assignment or transfer of rights or property done voluntarily without receiving any value in return.

Irrevocable

Incapable of being taken back, undone, or cancelled, often used in the context of certain contracts, trusts, or offers.