Listed below are five terms followed by a list of phrases that describe or characterize each of the terms with respect to accounting under IFRS.Match each phrase with the number for the correct term.
Definitions:
Marginal Revenue
The additional income generated from selling one more unit of a product or service.
Marginal Cost
The rise in expense associated with manufacturing an extra unit of a product or service.
Shut Down
A short-term decision by a company to cease operations temporarily due to unfavorable market conditions or to minimize losses when variable costs exceed total revenues.
Maximizes Profit
The strategy or process implemented to increase the difference between total revenue and total costs to the highest possible amount.
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