Recording Actual Income and Expenditure (Junior Cert Business Studies): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
ShowHide
Practise the questions
12 questions from this quiz
What does an account track?
What does an account track?
Money you actually received and spent
How does a budget differ from an account in terms of timing?
How does a budget differ from an account in terms of timing?
Budget looks forward, account looks back
What is accounting?
What is accounting?
Recording actual income and expenditure
Why do accounts often differ from budgets?
Why do accounts often differ from budgets?
Actual spending often differs from plans
What is one key benefit of keeping accurate accounts?
What is one key benefit of keeping accurate accounts?
You can see where money really goes
What is a transaction?
What is a transaction?
Any financial event with money moving
What are the two main types of transactions?
What are the two main types of transactions?
Cash and bank
What do cash transactions involve?
What do cash transactions involve?
Physical notes and coins
Which is an example of a cash transaction?
Which is an example of a cash transaction?
Paying bus fare with coins
What do bank transactions involve?
What do bank transactions involve?
Electronic money movement
Which is an example of a bank transaction?
Which is an example of a bank transaction?
Using debit card at SuperValu
What is the fundamental difference between a budget and an account?
What is the fundamental difference between a budget and an account?
Budget shows planned, account shows actual