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1.1 In TABLE 1 below is a list of explanations and definitions of concepts used in Mathematical Literacy.

TABLE 1: USE THE TABLE BELOW TO MATCH COLUMN A WITH COLUMN B

\begin{tabular}{|c|c|c|}
\hline
& COLUMN A & COLUMN B \\
\hline
1.1.1 & Fixed Expense & An expense that is the same every week or month. \\
\hline
1.1.2 & Profit & The difference between the cost price and the selling price. \\
\hline
1.1.3 & Variable Expense & \begin{tabular}{l}
It's an amount of money a person receives that changes according \\
to a situation
\end{tabular} \\
\hline
1.1.4 & Budget & \begin{tabular}{l}
It is a summary of expected income and expenditure over a \\
specific period of time.
\end{tabular} \\
\hline
1.1.5 & VAT-exempted & Items that are not taxed (VAT free) \\
\hline
\end{tabular}

[10]



Answer :

GinnyAnswer
Let's match each item in Column A with the correct definition from Column B. We'll analyze each concept and its appropriate definition.

### Given Table:

#### COLUMN A:
1. Fixed Expense
2. Profit
3. Variable Expense
4. Budget
5. VAT-exempted

#### COLUMN B:
- An expense that is the same every week or month.
- Items that are not taxed (VAT free)
- The difference between the cost price and the selling price.
- It's an amount of money a person receives that changes according to a situation.
- It is a summary of expected income and expenditure over a specific period of time.

### Step-by-Step Match:

1.1.1 Fixed Expense:
- A fixed expense is consistent and does not change over time. Hence, the appropriate match is:
“An expense that is the same every week or month.”

1.1.2 Profit:
- Profit is the amount of money gained from a transaction after subtracting the cost price from the selling price. Thus, the correct match is:
“The difference between the cost price and the selling price.”

1.1.3 Variable Expense:
- A variable expense is one that changes depending on specific circumstances or usage. Therefore, it matches:
“It's an amount of money a person receives that changes according to a situation.”

1.1.4 Budget:
- A budget outlines expected income and expenses over a certain period. It matches with:
“It is a summary of expected income and expenditure over a specific period of time.”

1.1.5 VAT-exempted:
- Items or services that are not subject to Value Added Tax (VAT) are considered VAT-exempted. Hence, the correct match is:
“Items that are not taxed (VAT free)”

### Final Mapped Table:

[tex]\[ \begin{array}{|c|c|c|} \hline \text{} & \text{COLUMN A} & \text{COLUMN A WITH COLUMN B}\\ \hline 1.1.1 & \text{Fixed Expense} & \text{An expense that is the same every week or month.}\\ \hline 1.1.2 & \text{Profit} & \text{The difference between the cost price and the selling price.}\\ \hline 1.1.3 & \text{Variable Expense} & \text{It's an amount of money a person receives that changes according to a situation.}\\ \hline 1.1.4 & \text{Budget} & \text{It is a summary of expected income and expenditure over a specific period of time.}\\ \hline 1.1.5 & \text{VAT-exempted} & \text{Items that are not taxed (VAT free).}\\ \hline \end{array} \][/tex]

Thus, the correct mappings are:
- Fixed Expense: "An expense that is the same every week or month."
- Profit: "The difference between the cost price and the selling price."
- Variable Expense: "It's an amount of money a person receives that changes according to a situation."
- Budget: "It is a summary of expected income and expenditure over a specific period of time."
- VAT-exempted: "Items that are not taxed (VAT free)"

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