Which of the following are fixed costs?

Fixed costs are those expenses that do not fluctuate with the level of production or sales. They remain constant regardless of how much a company produces or sells within a certain period.

Salaries are a prime example of fixed costs because they are often set agreements that require payment regardless of the company's output. For instance, employees on a salary will receive the same pay whether the business is experiencing high demand or none at all. This stability is essential for companies to predict their financial obligations over time.

On the other hand, utility bills and costs of raw materials can vary based on usage and production levels. Utility bills may increase with higher production levels due to greater electricity or water use, while the cost of raw materials fluctuates depending on business activity. Advertising expenses may also vary based on campaigns and market strategies, thus not qualifying as fixed costs.