Examlex
The idea that a measurement should correspond with the phenomenon it is attempting to measure is referred to in the conceptual framework as:
Net Profit
The actual profit after working expenses not included in the calculation of gross profit have been paid.
Fixed Cost
A cost that does not change with an increase or decrease in the amount of goods or services produced or sold.
Marginal Cost
The escalation in the entire cost linked to the output of an additional unit.
Average Cost
The cost per unit is determined by dividing the overall production cost by the total units produced.
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