Examlex
Which of the following provides the eye with its best defense against microorganisms?
Net Profit
The amount of earnings remaining after all expenses, taxes, and costs have been subtracted from total revenue; also known as net income.
Cost of Goods Sold
The direct costs attributable to the production of goods sold by a company, including materials and labor.
Direct Costing
A costing method where only variable manufacturing costs are assigned to inventory and cost of goods sold, with fixed manufacturing overhead treated as a period cost.
Variable Costing
An accounting method that includes only variable production costs (direct materials, direct labor, and variable manufacturing overhead) in the cost of goods sold, with fixed overhead costs treated as period expenses.
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