Accounting is considered the language of business, and also applies in our personal financial lives. Cost is determined by fixed and variable. The difference variable expenses differ from fixed expenses, such as our expenses that remain the same throughout the term of your loan or lease. Unlike fixed expenses, variable expenses can change significantly over the course of a week, a month, or a year. In this discussion question, you will apply theory from your past courses in accounting:

Describe how as a consumer taking charge of your own financial future, what lessons could you take from the concept of fixed and variable costs? Support your response with your current financial status.

Provideyour response if you believe fixed or variable cost are more detrimental to an organization and Describe in details to support your response.

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As a consumer taking charge of my own financial future understanding the concept of fixed and variable costs can provide valuable insights into managing my personal finances effectively 1 Budgeting Re... View the full answer