determine if the expenses listed are fixed or variable and match accordingly. car payment credit card…

determine if the expenses listed are fixed or variable and match accordingly. car payment credit card payment insurance gasoline groceries 1. fixed expense 2. variable expense

determine if the expenses listed are fixed or variable and match accordingly. car payment credit card payment insurance gasoline groceries 1. fixed expense 2. variable expense

Answer

Brief Explanations:

Fixed expenses remain the same regardless of usage or production levels. Variable expenses change based on usage or production. Car payments are typically fixed as the amount is set by the loan agreement. Credit - card payments can vary depending on the amount charged. Insurance premiums are often fixed for a specific period. Gasoline and grocery expenses vary based on consumption.

Answer:

Car payment: 1. Fixed expense Credit card payment: 2. Variable expense Insurance: 1. Fixed expense Gasoline: 2. Variable expense Groceries: 2. Variable expense