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The Study of or Science of Production, Distribution, and Consumption

question 5

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The study of or science of production, distribution, and consumption is known as


Definitions:

Operating Income

The profit earned from a firm's regular core business operations, excluding deductions of interest and tax.

Operating Expenses

Costs incurred in the normal operations of a business, such as salaries, utilities, and rent, exclusive of cost of goods sold.

Revenue Recognition

Revenue Recognition is the accounting principle that dictates the specific conditions under which income becomes recognized as revenue.

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