Answers Financial Math - MA2007 Home Ownership — Cumulative examQuestion 191

191

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Home Ownership — Cumulative exam

Question 191 • Financial Math - MA2007

Alberto is making a budget. He owes a cell phone bill of $60 per month for 23 more months, plus the fees for any extra usage such as text messaging or extra minutes. Which of the following is the correct category for this expense?a.Essential (flexible) expenseb.Emergency fundc.Essential (fixed) expensed.Non-essential expense

Answer

A

A

B

B

C

C

D

D

Explanation

The cell phone service is an essential expense, but the total bill can change because Alberto may have extra text or minute charges. An essential expense whose amount can vary is an essential (flexible) expense, so the correct choice is “Essential (flexible) expense.”

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