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The chart of accounts classifies the accounts to make identification of the accounts easier. Describe the numbering system businesses use in setting up the chart of accounts.
Marginal Cost
The investment required to manufacture one more unit of a product or service.
Diminishing Marginal Returns
A principle stating that as one factor of production increases, while others stay constant, the additional output will eventually decline.
Marginal Cost
The expansion in total financial commitment from producing one extra unit of a product or service.
Total Cost
The aggregate expense incurred in the manufacture or delivery of a product, including all overheads.
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