What is a financial reserve quizlet?
What is a financial reserve? An amount of money that's been set aside for emergencies. What is rent? The amount you pay to live in a space such as an apartment.
Why is it important to have an emergency fund?
An emergency fund is a cash reserve that's specifically set aside for unplanned expenses or financial emergencies. Some common examples include car repairs, home repairs, medical bills, or a loss of income.
Which of the following would you list as an essential fixed expense?
Among the given expenses, the rent expense is usually fixed for a given year and hence, it is an essential fixed expense. On the other hand, the electricity bill and telephone usage bill are variable expenses as they will change proportionately with the usage levels. The correct answer is option c. rent.
Which of the following statements best gives the reasons that a data usage bill for a smart phone is an essential variable expense quizlet?
Which of the following statements best gives the reasons that a data usage bill for a smart phone is an essential (variable) expense? It is an obligation to pay, but the spender has some control over its amount.
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