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SEM II
SEM II 3.03 Vocab
Term | Definition |
---|---|
Break-Even Point | The level of sales at which revenues equal total costs |
Fixed Costs | Business costs that are not affected by changes in sales volume |
Profit | Monetary reward a business owner receives for taking the risk involved in investing in a business |
Sales Revenues | Money that comes in to a business from the sale of goods and services; also called income from sales |
Selling Price | The amount a seller charges the purchaser for a good or service |
Total Costs | All of a business's costs, both fixed and variable |
Variable-Cost Margin | The amount of variable costs that apply to one unit |
Variable Cosrts | Business costs that change according to changes in sales volume |
Fringe Benefits | This is in addition to someones regular pay (bonuses, health insurance, free gifts). |