Figure 21-1 Arteries
Use Figure 21-1 to answer the following questions:
-Identify the artery labeled "16."
Definitions:
Variable Costs
Variable Costs are expenses that change in proportion to the activity of a business.
Fixed Costs
Costs that do not change with the volume of production or sales, such as rent, salaries, and insurance premiums.
Business Plan
A formal document detailing the goals, strategy, market, and financial projections for a business's operations.
Operating Income
The profit realized from a business's core operations, excluding deductions of interest and taxes.
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