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A rational individual will never consume a unit of a good if its
Cost of Goods Sold
Expenses directly linked to manufacturing goods for sale, covering both the cost of materials used and the wages for labor.
Closing Process
The year-end procedure used in accounting to transfer balances from temporary accounts to permanent accounts, preparing the books for the next fiscal period.
Selling Expenses
Costs incurred directly and indirectly in making sales, including advertising, commissions, and salaries of sales staff.
Human Resource Management
The strategic approach to the effective management of people in a company or organization in a way that helps their business gain a competitive advantage.
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