Money in Review Chapter 3 Exam
Questions and Answers Graded A+
Budget - Correct answer-A written cash flow statement
Reconcile - Correct answer-The act of matching your bank statement with your
checkbook
Zero-Based Budget - Correct answer-A cash flow that assigns an expense to every
dollar of your income, wherein the total income minus the expenses equals zero
Impulse Purchase - Correct answer-An item that is bought without pervious
planning or consideraton of the long term affects
Over Draft - Correct answer-Occurs when the money is withdrawn from a bank
account and the available balance goes below zero
Envelope System - Correct answer-Series of envelope that are divided into
catorgories ( food, entertainment, gas, etc) and are used to store cash for the
planned monthy expenses
Cash Flow Statement - Correct answer-A summary that shows total income and
spending for a given time period
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
Questions and Answers Graded A+
Budget - Correct answer-A written cash flow statement
Reconcile - Correct answer-The act of matching your bank statement with your
checkbook
Zero-Based Budget - Correct answer-A cash flow that assigns an expense to every
dollar of your income, wherein the total income minus the expenses equals zero
Impulse Purchase - Correct answer-An item that is bought without pervious
planning or consideraton of the long term affects
Over Draft - Correct answer-Occurs when the money is withdrawn from a bank
account and the available balance goes below zero
Envelope System - Correct answer-Series of envelope that are divided into
catorgories ( food, entertainment, gas, etc) and are used to store cash for the
planned monthy expenses
Cash Flow Statement - Correct answer-A summary that shows total income and
spending for a given time period
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
