12
practice examMultiple Choice

Practice Exam

Question 12 • Personal Finance and Economics

Which of these qualify as variable expenses? Choose three correct answers.

Answer
A
apartment rent
B
medical bills
C
monthly groceries
D
clothing purchases
E
loan payment

Explanation

Variable expenses can change in amount from month to month. Monthly groceries, clothing purchases, and medical bills may vary depending on what you buy or need. Loan payments and apartment rent are generally fixed expenses because their amounts are usually set in advance.

AI-written and checked against the verified answer.

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