ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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are expenses that do not change each month.
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are expenses that can go up and down each month.
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is money added to a checking or savings account.
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are special checks that can be ordered from banks or other retailers of personal checks. They have the advantage of leaving you with an exact and immediate copy of every check you write.
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Detailed explanation-1: -A variable expense is any expense that can fluctuate in amount. Some examples of variable expenses include groceries, gas, and entertainment. Variable expenses can be difficult to budget for because you never know exactly how much you’ll spend.
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: -Variable Expenses Definition. Variable expenses are the opposite of fixed expenses. A variable expense may recur from month to month. But the amount you pay in any given month could be different from previous payments or ones you’ll make in the future.
Detailed explanation-4: -Variable costs are costs that change as the volume changes. Examples of variable costs are raw materials, piece-rate labor, production supplies, commissions, delivery costs, packaging supplies, and credit card fees.
Detailed explanation-5: -Variable costs are any expenses that change based on how much a company produces and sells. This means that variable costs increase as production rises and decrease as production falls. Some of the most common types of variable costs include labor, utility expenses, commissions, and raw materials.