QuestionAugust 7, 2025

Which of these expenses is not essential and can be trimmed or eliminated? Choose the best answer. Fixed expenses Variable expenses Discretionary expenses Encumbrances

Which of these expenses is not essential and can be trimmed or eliminated? Choose the best answer. Fixed expenses Variable expenses Discretionary expenses Encumbrances
Which of these expenses is not essential and can be trimmed or eliminated? Choose the best answer. Fixed expenses Variable expenses Discretionary expenses Encumbrances

Solution
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Answer

Discretionary expenses Explanation 1. Define Expense Types Fixed expenses are regular, necessary costs (e.g., rent). Variable expenses fluctuate but are often essential (e.g., utilities). Discretionary expenses are non-essential and can be trimmed (e.g., entertainment). Encumbrances refer to legal claims on assets, not directly related to personal budgeting.

Explanation

1. Define Expense Types<br /> Fixed expenses are regular, necessary costs (e.g., rent). Variable expenses fluctuate but are often essential (e.g., utilities). Discretionary expenses are non-essential and can be trimmed (e.g., entertainment). Encumbrances refer to legal claims on assets, not directly related to personal budgeting.
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