Fixed Costs Are Those Costs Which Are Directly Tied to the Manufacturing

question 44

True/False

Fixed costs are those costs which are directly tied to the manufacturing of a product,or the delivery of a service,depending on the type of business being assessed.

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Definitions:

Self-Employment Tax

Self-employment tax is a tax consisting of Social Security and Medicare taxes primarily for individuals who work for themselves, comparable to the payroll tax paid by employers and employees.

Consulting Income

Earnings derived from providing expert advice to individuals or organizations in a specific field.

Local Business

A company that provides goods or services to a local population. It's often characterized by having a physical presence in a community.

Net Income

The total profit of a company after all expenses, taxes, and costs have been deducted from total revenues.