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Which statement about the three-level hierarchy of intelligence is TRUE?
Break-even Point
The point at which total costs and total revenue are equal, meaning there is no net loss or gain, and one is "breaking even."
Contribution Margin
The amount remaining from sales revenue after all variable expenses are deducted, indicating how much contributes to covering fixed costs and generating profit.
Variable Costs
Costs that change in proportion to the level of production or sales activity within a business.
Fixed Costs
Expenses that do not change with the level of production or sales over a certain period, such as rent, salaries, and insurance.
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