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Variable Costs
Expenses that vary directly with the level of production or sales volume, such as raw materials and direct labor.
Revenues
The gross increase in owner’s equity resulting from business activities entered into for the purpose of earning income.
Fixed Costs
Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.
Nonfinancial Information
Data that relates to the operational, environmental, and social aspects of a business, which cannot be easily quantified in monetary terms.
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