Question

Consider the following list of items: Food Electric bill Clothing Health insurance These are all examples of:

A. Assets
B. Expenses
C. Income
D. Savings

Answer 1

These are all expenses because they cost you money each month.

Answer 2

The correct answer is B. Expenses

Step-by-step explanation:

In the economy, expenses refer to the money paid for some product or service; especially, in terms of spending money that is necessary for a company to work or for an individual to meet basic needs. In the case of companies, expenses include wages or advertising; on the other hand, individual expenses include food, entertainment, health insurance bills, clothing, transportation, among others. This implies the list of items includes examples of expenses as these are items or services people paid for to met their needs.