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Business
Business(Expenditure)
| Question | Answer |
|---|---|
| What is expenditure? | Money spent |
| What is financial cost? | The actual cost of something you buy |
| What is opportunity cost? | When you make a choice between a number of things, you loose the opportunity to have the things you did not choose |
| What is impulse buying? | Unplanned buying of goods which are not needed |
| What is fixed expenditure? | Expenditure that is fixed in amount and is paid at fixed times during the year |
| Give examples of fixed expenditure | Mortgage,rent,loan repayments,insurance |
| What is irregular expenditure? | Expenditure that varies with use and is paid at different times during the year |
| Give examples of irregular expenditure? | Housekeeping costs,electricity,telephone,fuel,education |
| What is discretionary expenditure? | Expenditure that varies with the needs,likes,hobbies and opinions of the people and is paid at different times during the year |
| Give examples of discretionary expenditure | Entertainment,holidays,church donations,birthdays,house decorations |
| What is capital expenditure? | Expenditure for things that will last for a number of years |
| Whats is current expenditure? | Expenditure for things that will be used up within one year |
Created by:
Chimozukee
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