"NAICS" Means

question 255

Multiple Choice

"NAICS" means:

• A) North American Initiative for Competitive Structure.
• B) North American Industry Classification System.
• C) New Auto Industry Classification System.
• D) National Automakers Industry Classification System.
• E) National Apparel Industry Classification System.

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Definitions:

Variable Costs

Costs that vary directly with the level of production or sales volume; they rise as production increases and fall as production decreases.

Fixed Costs

Expenses that do not change with the level of production or sales activities within a certain scale.

Net Working Capital

A liquidity calculation that represents the difference between a business's current assets less its current liabilities, highlighting operational efficiency and short-term financial health.

Equivalent Annual Cost

A financial metric that calculates the annual cost of owning, operating, and maintaining an asset over its entire life, allowing for the comparison of different assets' costs.