In 1898, Spain Defeated the United States in the Spanish-American

question 1

True/False

In 1898, Spain defeated the United States in the Spanish-American War, hence breaking Cuba free from the United States.

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Contribution Margin

The difference between the sales revenue of a product and its variable costs, used to cover fixed costs and profit.

Pretax Net Income

The amount of income earned by a business before taxes have been deducted.

Absorption Costing

A method of product costing that includes all manufacturing costs, both variable and fixed, in the cost of a unit of a product.

Pre-Tax Net Income

The income that a company earns before any taxes are deducted, reflecting the earnings from its core business operations.