Examlex
Telling a customer that he needs repair work done on a vehicle when the vehicle is in fine condition is unethical and misrepresentation.
Break-Even Point
The financial analysis term where total costs and total revenues are equal, resulting in no net loss or gain for the business.
Contribution Margin
Contribution margin is the amount remaining from sales revenue after variable expenses are deducted, showing how much contributes to covering fixed costs and profit.
Fixed Costs
Costs that remain constant regardless of a company's operational levels, including rent, wages, and insurance fees.
Absorption Costing
An approach for assigning costs to a product that integrates all aspects of manufacturing expenses, from direct materials and labor to both types of overheads - fixed and variable.
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