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What is the impact of a 50 basis point increase in interest rates on the net asset value of an open-end bond mutual fund holding a seven year, $100 million face value 7 percent annual coupon bond selling at par? The fund has 10 million shares.
Inventory
Goods and materials that a business holds for the ultimate goal of resale or processing.
Variable Costing
A costing method that includes only variable production costs—direct materials, direct labor, and variable manufacturing overhead—in product cost determination.
Operating Expenses
Recurring expenses related to the core operations of a business, excluding the cost of goods sold, such as rent, utilities, and salaries.
Net Income
The net income a business generates once all costs and taxes are deducted from its total revenue.
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