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MATCHING
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Decision-Making Process
A series of steps followed by an individual or an organization to identify and evaluate options to make a choice.
Variable Costs
Expenses that vary directly with the level of production or sales volume, such as raw materials and direct labor.
Revenues
The gross increase in owner’s equity resulting from business activities entered into for the purpose of earning income.
Fixed Costs
Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.
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