4.10 A Fixed and Variable Expenses Day 1

Yuan bought four tickets to a concert. Each ticket costs the same amount. The cost of the concert tickets is a . . .

• Fixed Expense

• Variable Expense

Larry has had a storage unit for years. He pays $126 per month on the unit to hold his possessions.

Which of the following is a true statement?

• A. The cost of the storage shed is a fixed expense.

• B. The cost of the storage shed is a variable expense.

• C. The cost of the storage shed is neither a fixed nor variable expense.

Jax buys his lunch at school every day. He spends $2.50 per day.

Which type of expense is Jax's lunch?

• A. Fixed expense

• B. Variable expense

Students can borrow money from a bank in order to pay for college. Then, they will pay the loan back each month. Which of the following is a true statement about the loan payment?

• A. It is a variable expense because the cost will change each month.

• B. It is a fixed expense because the cost will not change.

• C. It is a fixed expense because students can usually pay off their loans in one year.

• D. It is a variable expense because student's can choose not to pay the loan.

Trina lives in an apartment. The table shows some of the expenses that Trina paid for three months to live in the apartment.

Which expenses were variable expenses for Trina during these three months?

• F. Water and Electricity only

• G. Rent, Water and Electricity

• H. Rent and Cable TV only

• J. Cable TV only

The table shows the amounts Ms. McCulley paid for different expenses during the last three months.

Which expenses were fixed expenses for Ms. McCulley during these three months?

• A. Groceries, gasoline, and utilities only

• B. Rent and car payment only

• C. None of the expenses

• D. All of the expenses

Which expenses are FIXED expenses?

• Rent, car payment, Disney+ subscription.

• All of them

• Groceries, Movie tickets, light bill

• None

Answer explanation

Remember, variable expenses, vary, they change every year, month, week or day.

Which expenses are VARIABLE expenses?

• Rent, car payment, Disney+ subscription.

• All of them

• Groceries, Movie tickets, light bill

• None

Answer explanation

Remember, variable expenses, vary, they change every year, month, week or day.

The table shows four of Edgar's monthly payments. Which payment is a fixed expense?

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The table shows Gabriel's monthly expenses for three months. Based on the information on the table, which statement is false?

• A. The car payment is a variable expense.

• B. The entertainment payment is a variable expense.

• C. The clothing payment is a variable expense.

• D. The health insurance payment is a fixed expense.