Examlex
Which term refers to the tail end of a four-legged animal?
Traditional Format
In accounting, it refers to the conventional way of reporting income statements, segmenting costs into categories like cost of goods sold, operating expenses.
Cost Of Goods Sold
The direct costs attributable to the production of the goods sold by a company, including raw materials, labor, and manufacturing overhead.
Variable Expenses
Costs that vary directly with the level of production or sales volume, such as raw materials and commission fees.
Fixed Cost
Costs that do not change with the level of output or activity in the short term, such as rent, insurance, and salaries of permanent staff.
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