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SEM II

SEM II 3.03 Vocab

TermDefinition
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).
Created by: ashley_heath
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