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If not recycled, an input used in production ultimately winds up as a waste product.
Operating Expenses
Recurring expenses related to the normal business operations, such as wages, rent, and utilities, but not including cost of goods sold.
Renovation Expense
Costs incurred in the process of improving or updating a property, structure, or equipment to increase its value.
Working Capital
The difference between a company's current assets and current liabilities, indicating the amount of liquid assets available for day-to-day operations.
Incremental Net Income
Net income resulting from a particular action or decision, calculated as the difference in total net income if the action is taken versus if it is not.
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