Expenses Whole Group # 1-12 4/1/24

Most people borrow money when they buy a home. Each month, they make payments on the money they borrowed. What kind of expenses are

most house payments?

• Variable, because the payment is not due

  every month

• Variable, because the payment changes each month.

• Fixed, because the amount is

  the same every month

• Fixed, because the house can

  be paid off within one year

Which of the following is not an example of a variable expense?

• Spending money on movie ticket

• Renting a hotel for vacation

• Paying each month for wireless internet service.

• Buying snacks for a road trip.

Every month, $575 is taken out of Mr. Ronan’s check for

his retirement savings. Is this an example of a fixed expense or

variable expense?​ (a)  

• variable expense
• fixed expense

The table below shows four things

that Mrs. Garcia paid using her debit

card last week.

Which payment represents a fixed

expense?

• Payments

  Satellite TV Bill

• Dental Cleaning

• Eating at a Restaurant

• Speeding Ticket

  Cost

Scarlet plays volleyball for a team. Her mother has to buy a

new volleyball uniform each year.

Which type of expense is this?

(a)  

• variable expense

• fixed expense

Which of the following is an example

of a fixed expense?

(a)  

• The cost of taking the dog to the vet.

• The cost of a doctor’s appointment.

• The cost of repairing an oven.

• The cost of life insurance.

Each month, Mrs. Barber spends $685 on health

insurance for her and her kids. The cost of health insurance is a

​ (a)   expense.

• fixed
• variable

Theda bought a new car last

summer. The list below shows the

payments she makes as a car owner. Which of the payments is a variable ​ (a)   expense?

• car repairs
• car payment
• car insurance.

The table shows four expenses Penny has each month. Which of Penny’s expenses is a variable expense?

• Groceries

• Renters Insurance

• Apartment Rent

• Daycare Payment

Creative Cakes Company decides how much sugar to buy by looking at their sales from the previous month.

Is the cost of sugar a fixed expense or a variable expense?

(a)  

• fixed expense

• variable expense