Question

A) fixed expenses are expenses that do not change from month to month, and variable expenses are expenses that can fluctuate from month to month. Complete the second column of the chart by determining if each expense is fixed or variable

Answer 1

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❏The definition of fixed expenses is “any expense that does not change from period to period," such as mortgage or rent payments, utility bills, and loan payments.

❏The amounts may vary slightly, which may be the case with utilities, but you know they are due on a regular basis.

❏Fixed expenses are your weekly, monthly, or annual bills that don't fluctuate.

❏These include things like mortgage or rent payments, car payments, insurance premiums, utility bills, and the average amount you spend on groceries.

Answer 2

fixed expenses and variable expenses

Explanation:

Fixed expense are those expenses which does not change over a period of time.

For Ex. your house mortgage or the your bike Monthly instalment, Rent , interest or salary.

variable expense are those expenses which change over a period of time .

for Ex. Wage expanse , Raw material, Electricity bill, etc .

Fixed Exp variable Exp Total Exp

10. 10 20

10. 20 30

10. 30 40

10. 40 50