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Which of the following is considered to be an IOU?
Sales Revenues
The income received by a company from its sales of goods or the provision of services, before any expenses are deducted.
Variable Costs
Variable expenses directly linked to the operational scale of a business.
Variable Costing
Variable costing is an accounting approach that includes only variable production costs (materials, labor, and overhead) in product costs, omitting fixed costs.
Net Income
The total profit of a company after all expenses, taxes and costs have been subtracted from total revenue.
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