
Fixed vs. Variable Expenses Explained

Interactive Video
•
Mathematics
•
1st - 5th Grade
•
Hard
+11
Standards-aligned

Liam Anderson
FREE Resource
Standards-aligned
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the two main types of expenses discussed?
Fixed and Variable
Regular and Irregular
Predictable and Unpredictable
Essential and Non-essential
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How should you budget for expenses that occur more than once a month?
Ignore the extra occurrences
Divide the cost by 12
Multiply the cost by occurrences
Estimate the average cost
Tags
CCSS.7.EE.B.3
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How often does the narrator's friend celebrate his birthday on February 29th?
Every year
Every four years
Every two years
Every month
Tags
CCSS.RL.1.9
CCSS.RL.2.6
CCSS.RL.3.6
CCSS.RL.4.3
CCSS.RL.5.3
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the suggested method to budget for expenses that occur less frequently than monthly?
Divide the total cost by the number of months
Multiply by 12
Estimate and adjust monthly
Ignore until the expense occurs
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a recommended strategy for managing variable expenses?
Use the average of past expenses
Always choose the highest past expense
Ignore small expenses
Budget less than expected
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of the envelope budgeting method?
To invest in stocks
To control variable spending
To predict fixed expenses
To save for vacations
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you do if your actual spending on a variable expense is less than budgeted?
Spend it immediately
Save or spend the excess
Adjust the budget to match
Report the savings
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