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Consider the Following Four Phrases and Select the One That

question 164

Multiple Choice

Consider the following four phrases and select the one that does not belong with the others.


Definitions:

Fixed Costs

Costs that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.

Fixed Costs

Fixed costs are business expenses that do not change with the level of output or sales, such as rent or salaries.

Variable Costs

Costs that vary directly with the level of production or service activity within a business.

Net Income

The total amount of profit left over after all operating expenses, taxes, and interest have been deducted from total revenue.

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