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Non-Volume-Based Costs
Costs that do not vary directly with the volume of production or sales, often encompassing fixed costs like rent or salaries.
Volume-Based Costs
Costs that vary directly with the level of production or sales volume, such as direct materials and direct labor, contrasting with fixed costs that remain constant regardless of volume.
Qualitative Characteristics
The attributes that make financial information useful to users, including relevance and faithful representation.
Quantitative Characteristics
Measurable attributes that can be quantified and analyzed numerically, often used in statistical and financial analysis.
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