Fixed and Variable Expenses

Flashcard
•
Mathematics
•
5th - 8th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
What is a fixed expense?
Back
A fixed expense is a cost that does not change and must be paid regularly, such as rent or loan payments.
2.
FLASHCARD QUESTION
Front
What is a variable expense?
Back
A variable expense is a cost that can change from month to month, such as groceries or entertainment.
3.
FLASHCARD QUESTION
Front
Give an example of a fixed expense.
Back
An example of a fixed expense is a monthly subscription fee for a magazine.
4.
FLASHCARD QUESTION
Front
Give an example of a variable expense.
Back
An example of a variable expense is the amount spent on dining out, which can vary each month.
5.
FLASHCARD QUESTION
Front
How does a fixed expense affect a budget?
Back
Fixed expenses are predictable and help in planning a budget since they remain constant.
6.
FLASHCARD QUESTION
Front
How does a variable expense affect a budget?
Back
Variable expenses can make budgeting more challenging because they can fluctuate each month.
7.
FLASHCARD QUESTION
Front
Is a car payment a fixed or variable expense?
Back
A car payment is a fixed expense because it is the same amount each month.
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