Vocabulary
- Revenue: all income that a business receives over a period of time.
- Expenses: the costs of operating a business.
- Budget: detailed plans for the financial needs of individuals, families, and businesses.
- Start-up Budget: plans income and expenses from the beginning of a new business or a major business expansion until it becomes profitable.
- Operating Budget: describes the financial plan for ongoing operations of the business for a specific period.
- Cash Budget: an estimate of the actual money received and paid out for a specific period.
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