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In China,suppose that the price level was 100 in 2011,110 in 2012,and 120 in 2013.Over these three years,
Noncash Expense
Expenses recorded on the income statement not requiring actual cash outflow, such as depreciation and amortization.
Depreciation
The accounting practice of allocating the cost of a tangible or physical asset over its useful life, reflecting the decrease in value of the asset over time.
Operating Costs
Expenses related to the core functions of running a business, including manufacturing and service delivery.
Income Taxes
Taxes imposed by the government on the income generated by businesses and individuals within their jurisdiction.
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