What Is the Difference Between Licensure and Certification

question 20

Essay

What is the difference between licensure and certification?

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Definitions:

Contribution Margin Ratio

The percentage of each sale that exceeds the variable costs of production.

Break-even Point

The level of production or sales at which total revenues equal total expenses, resulting in neither profit nor loss.

Margin of Safety

The difference between actual or projected sales and the break-even point, indicating the cushion a business has before it incurs a loss.

Operating Leverage

A measure of how sensitive net operating income is to a given percentage change in dollar sales.