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Read this excerpt from a patient's health record: "Temp: 101.1oF; HR: 110; RR: 32; BP: 84/60; Pulse ox: 93%. He is alert and in no apparent distress. HEENT: His ear canals are clear. There is no evidence of an ear infection. There is congestion in his nares. His lips and mouth are moist. He does not have any pharnygeal exudate. Resp: He is wheezing bilaterally on auscultation." What is the correct definition for the underlined term?
Contribution Margin
The amount remaining from sales revenue after all variable expenses have been deducted.
Contribution Margin
Contribution Margin is the selling price per unit minus the variable cost per unit, indicating how much of a product's sales contribute towards fixed expenses and profit.
Net Income
The profit of a company after all expenses and taxes have been subtracted from total revenue; a key indicator of financial health.
Contribution Margin
The amount remaining from sales revenue after variable expenses have been deducted, indicating how much contributes to covering fixed costs.
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