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Give the Kelvin-Planck statement of the Second Law of Thermodynamics.
Net Operating Income
The total earnings from a company's operations after deducting operating expenses but before interest and taxes.
Net Operating Income
The profit a company makes after deducting operating expenses from gross profit, not including income and expenses from investments and interest.
Variable Costing
An accounting method that only considers variable costs in determining the cost of products.
Variable Costing
An accounting method that only includes variable production costs (materials, labor, and overhead) in product costs, excluding fixed costs.
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