ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Variable expenses
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Flexible expenses
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Fixed expenses
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Budgeted expenses
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Detailed explanation-1: -Fixed expenses generally cost the same amount each month (such as rent, mortgage payments, or car payments), while variable expenses change from month to month (dining out, medical expenses, groceries, or anything you buy from a store). TIP.
Detailed explanation-2: -Fixed expenses: These are costs that largely remain constant, such as your monthly rent or mortgage.
Detailed explanation-3: -Most commonly, they occur monthly-like rent, mortgage payments or car payments. But fixed expenses can also be due quarterly or annually. These types might include HOA payments, insurance payments and professional association dues.
Detailed explanation-4: -Fixed expenses are expenses that do not change in conjunction with the level of activity. These expenses tend to be quite stable, not changing much from month to month. Examples of fixed expenses are advertising, dues, equipment leases, insurance, and rent.