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According to Daniel Bell, the third technological revolution was the invention of the computer.
Revenue
The total amount of money generated from the sale of goods, services, or any other use of capital or assets, before any expenses are deducted.
Inventory Level
The number of units of products or materials that are kept in stock by a business.
Period Cost
Costs that are taken directly to the income statement as an expense in the period in which they are incurred, not directly tied to the production of inventory.
Fixed Manufacturing Cost
Costs that remain constant regardless of production volume, including fixed overheads like lease payments, wages for full-time staff, and reduction in value of manufacturing machinery.
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