Examlex
Define the following terms
-wording effects
Variable Costs
Expenses that vary directly with the level of production or output, such as materials and labor costs.
Fixed Cost
Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.
Net Operating Income
A measure of a company's profitability, calculated by subtracting operating expenses from operating revenues, excluding taxes and interest.
EBIT
A financial performance metric that calculates a company's profits before accounting for interest and income tax costs, including all other expenses.
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