Financial Math
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Common terms
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- Budget
- Debit
- Credit
- Income
- Principal
- Asset
Budget
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Spending plan which is based on income and expenses in order to meet financial obligations.
Debit
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The amount of money that flows into a particular account.
Credit
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A record of all of the money that flows out of a particular account.
Income
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Money that is received by a person or business through investments, employment, or business transactions.
Principal
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The amount of debt, exclusive of interest, that is remaining on a loan.
Asset
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A particular resource that holds value. This may be intangible, tangible, owned or controlled.
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