• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

Card Range To Study



Play button


Play button




Click to flip

Use LEFT and RIGHT arrow keys to navigate between flashcards;

Use UP and DOWN arrow keys to flip the card;

H to show hint;

A reads text to speech;

22 Cards in this Set

  • Front
  • Back


Type of expenditure that is probably the hardest for an individual to track

Tangible Asset

A physical asset, such as furniture or a car, is called this

Record Keeping System

The best type to use in maintaining financial records is one you will actually use

Debt Ratio

Found by dividing total debt or liabilities by total assets


The condition in which you owe more money than your assets are worth

Fair Market Value

The current value of assets. It is what an asset could be sold for rather than what it cost or what it will be worth sometime in the future


An expenditure over which you have no control, are not obligated to make, and may vary from month to month

Fixed Expenditure

An expenditure over which you have no control and are obligated to make

Personal Income Statement

Calculation is based on actual cash flows


Financial debts and obligations for which you owe

Balance Sheet

This financial planning document is used to measure your level current wealth

Income Statement

A statement that records where your money has come from and where it has gone over some period of time

Expense Separation

When operating business out of your home be sure to keep expenses seperate

Cash Budget

A plan for controlling and forecasting your cash inflows and cash outflows

Cash Flows

The primary consideration for the owner of a young business that is expanding rapidly


A book or notebook set aside to record expenditures

Investment Asset

Unlike a normal asset this normally appreciates over time

Net Worth

Found by subtracting your liabilities from your assets

Savings Ratio

To determine how much income is available for future monetary needs as well as for investment

Blue Book

If you are trying to buy a used car, you would most likely find a listing of used car prices in this

Variable Expenditure

An expenditure over which you can control over time and which you can manage

Current Ration

Found by dividing monetary assets by current liabilities and is a good measure of liquidity