Question

Preparing an income and expense statement helps in answering the question, "Where does all my money go?" This statement takes __________and ___________subtracts to determine an individual's or a family's cash surplus or deficit situation.

Answer 1

Correct question read;

"This statement takes __________and subtracts_________ to determine an individual's or a family's cash surplus or deficit situation.

Answer:

note of income; the expenses

Explanation:

Remember, the income and expense statement as the name implies is a financial statement that takes note of all incomes into a financial account and then subtracting identified expenses from the income to determine if there was a loss or profit.

By following this method, one ultimately would be able to answer the question, "Where does all my money go?".