Increases and decreases in various types of accounts are listed below. In each case, indicate by "Dr." or "Cr." (a) whether the change in the account would be recorded as a debit or a credit and (b) whether the normal balance of the account is a debit or a credit.
Definitions:
Net Operating Income
A measure of a company's profitability calculated as total revenue minus operating expenses, excluding interest and taxes.
Contribution Approach
A method of income statement presentation that separates fixed costs from variable costs, facilitating operational decision-making.
Cost Formula
An equation used to predict costs at different levels of activity. It often incorporates fixed costs, variable rate per unit of activity, and the total cost.
Administrative Expenses
Overhead or operating expenses associated with the day-to-day operations of a business, excluding production costs.
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