Several terms which represent components of an accounting system are listed below. For each term, write a brief explanation of how that component is used in the accounting cycle. 
Definitions:
Rubber Boots
Footwear made of rubber, designed to be waterproof, typically used during rainy weather or in wet environments.
Mark-up
A premium added to the cost price of items to compensate for fixed costs and profit.
Dog Kibble
Small, dry pieces of food formulated for dogs' nutritional needs.
Break-even Price
The market price at which the total costs of production equal the revenues for a product or service, resulting in no net loss or gain.
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