ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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variable
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fixed
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Either A or B
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None of the above
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Detailed explanation-1: -Fixed expenses, such as rent, stay the same from month to month. Variable expenses are ones that can change, such as gas or food. Cutting costs on fixed expenses can help you save money by lowering your overall bills.
Detailed explanation-2: -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).
Detailed explanation-3: -Examples of fixed costs are rent and lease costs, salaries, utility bills, insurance, and loan repayments.
Detailed explanation-4: -Fixed expenses, savings expenses, and variable costs are the three categories that make up your budget, and are vitally important when learning to manage your money properly. When you’ve committed to living on a budget, you must know how to put your plan into action.
Detailed explanation-5: -Cost of Goods Sold. Operating Expenses. Financial Expenses. Extraordinary Expenses. Non-Operating Expenses.