Which Term Refers to Broad Schemes of Classification

question 11

Multiple Choice

Which term refers to broad schemes of classification?

• A) continuums
• B) typologies
• C) categories
• D) typographies

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Definitions:

Cost of Goods Sold

The immediate expenses linked to the creation of a company's sold products, encompassing both the costs of materials and labor.

Net Sales

Total revenue from sales of goods or services, less returns, allowances for damaged goods, and discounts.

Operating Expense

Expenses incurred during normal business operations, such as rent, utilities, and payroll, excluding costs associated with the production of goods sold.

Administrative Expenses

Expenses related to the general operation of a business, such as salaries of non-sales personnel, office supplies, and rent.