An Oral or Written Statement Made by an Out-Of-Court Declarant

question 53

Multiple Choice

An oral or written statement made by an out-of-court declarant that is offered in court by a witness (not the declarant) concerning a matter before the court is referred to as:

• A)Hearsay
• B)Prejudicial evidence
• C)Relevant evidence
• D)Testimony

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Definitions:

Income From Operations

The profit realized from a business's ongoing core business operations, excluding deductions of interest and taxes.

Break-even Point

The point at which total costs and total revenue are equal, resulting in no net loss or gain.

Variable Cost

Costs that vary directly with the level of production or output. These are often raw material and labor costs that increase or decrease with the volume of production.

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance, remaining constant regardless of the level of business activity.