Mastering Fixed and Variable Expenses
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Questions and Answers

Which of the following is an example of a fixed expense?

  • Restaurant bill
  • Gasoline bill
  • Electricity bill (correct)
  • Grocery bill

    • Which of the following is an example of a variable expense?

  • Car loan payment
  • Phone bill (correct)
  • Medical insurance premium
  • Internet bill

    • Which of the following is a characteristic of fixed expenses?

  • They are optional and can be eliminated
  • They are one-time payments
  • They vary from month to month
  • They are essential for survival (correct)

    • Match the following expenses with their type (fixed or variable):

    <p>Rent = Fixed expense Electricity bill = Variable expense Internet subscription = Fixed expense Groceries = Variable expense</p> Signup and view all the answers

    Match the following with their expense type (fixed or variable):

    <p>Car insurance = Fixed expense Gas for car = Variable expense Mortgage = Fixed expense Dining out = Variable expense</p> Signup and view all the answers

    Match the following with their type of expense (fixed or variable):

    <p>Gym membership = Fixed expense Clothing = Variable expense Phone bill = Fixed expense Vacation = Variable expense</p> Signup and view all the answers

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