What is defined as a fixed expense?(1 point) Responses an estimate of income and expenditure for a set period of time an estimate of income and expenditure for a set period of time an expense whose total amount does not change from month to month an expense whose total amount does not change from month to month an expense whose total amount changes from month to month an expense whose total amount changes from month to month a sum of money that you must pay the government every year.
Correct answer: an expense whose total amount does not change from month to month
A fixed expense is defined as an expense whose total amount does not change from month to month.
A fixed expense is defined as an expense whose total amount does not change from month to month. It remains constant regardless of other factors such as income fluctuations or changes in usage. A typical example of a fixed expense is rent or mortgage payments, where the amount remains the same throughout the agreed-upon lease or loan term. To identify fixed expenses, you can review your monthly bills and observe which expenses have a consistent and unchanging amount.
