Question

15 points!

You will need to revise your budget to account for a car payment.

Which expense category would be the most difficult to change or reduce?

entertainment -Not the answer
rent
savings
groceries

thank you!

Answer 1

rent

Step-by-step explanation:

is the correct answer

Answer 2

rent

Step-by-step explanation:

The rent expense will be difficult to revise. Usually, the rent amount is contained in a tenancy agreement signed by both the landlord and the tenant. The rent amount does not change until the lease or tenancy agreement expires. Changing the rent amount would require the landlord's consent.

Due to the above reasons, rent is classified as a fixed cost. It remains constant in the short run.