Here are the answers to your questions:
Question 1: Which of the following expenses is a routine expense?
- Rent (This is considered a routine expense because it is typically paid on a regular basis, such as monthly.)
Question 2: Which of the following expenses is a discretionary expense?
- Cable television (This is a discretionary expense because it is not a necessity and can be adjusted or eliminated based on personal choice.)
Question 3: Net income is always __________ gross income.
- Less than (Net income is the amount remaining after all deductions, such as taxes and expenses, have been taken from gross income.)
Question 4: Why does selecting a type of employment involve tradeoffs?
- No job offers everything a person wants or needs. (This statement captures the essence of tradeoffs, as different jobs have different benefits, responsibilities, and work environments.)
Question 5: Who completes a W-4 Form and when?
- All employees must fill out a W-4 form when they start a new job. (A W-4 form is completed by employees to indicate their tax situation to their employer.)
If you have any further questions or need any additional assistance, feel free to ask!