QUESTION 1 What is the best definition of a fixed variable cost?

QUESTION 1

  1. What is the best definition of a fixed variable cost?
  2. expense that you must pay and is the same amount each month
  3. expense that you must pay each month but the amount can differ
  4. an expense that is optional, but the amount changes each month
  5. an expense that is optional, but the amount stays the same each month

4 points  

QUESTION 2

  1. Which of the following is an example of a fixed variable cost?
  2. utility bill
  3. rent
  4. car payment
  5. gym membership dues

4 points  

QUESTION 3

  1. Choose the best example of controlling a fixed variable cost.
  2. setting a thermostat
  3. using a fireplace instead of an electric heater
  4. determining when “off-peak” hours at the electric company are and only doing your laundry during that time
  5. all of the above

4 points  

QUESTION 4

  1. Which of the following is the BEST example of a good way to use your credit card?
  2. charging consumable goods on your credit card
  3. making minimum payments each month on your credit card
  4. paying your bill off in full each month
  5. paying for everything with your credit card

4 points  

QUESTION 5

  1. When is the best time to go to the grocery store so you can spend the least amount of money?
  2. on a full stomach
  3. on a day where there are lots of sales
  4. both a and b
  5. neither a nor b

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