read the scenario and decide if it describes a fixed or variable expense. thomas is excited about the new…

read the scenario and decide if it describes a fixed or variable expense. thomas is excited about the new truck he purchased. now, he needs to add the monthly truck payment to his budget as a new expense. fixed expense variable expense

read the scenario and decide if it describes a fixed or variable expense. thomas is excited about the new truck he purchased. now, he needs to add the monthly truck payment to his budget as a new expense. fixed expense variable expense

Answer

Brief Explanations:

A fixed expense is one that remains the same amount each period. The monthly truck payment will be the same each month assuming a standard loan agreement with a fixed - rate and fixed - term. A variable expense changes in amount based on usage or other factors. Since the truck payment is consistent monthly, it's a fixed expense.

Answer:

Fixed Expense