Question

Sort each type of expense into the category where it fits best.

Answer 1

The categories that the expenses best fit into are:

fixed expenses :

1. mortgage expenses
2. rent
3. loan payments

variable expenses:

1. clothing expenses
2. food expenses

What are fixed and variable expenses?

Fixed expenses are the expenses that are constant. They do not vary with the quantity bought. Variable expenses are the expenses that vary. More quantities can be bought and this increases the expenses.

To learn more about fixed cost, please check: brainly.com/question/27127934

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