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E II obj 2.04
PI-004 Glossary
Question | Answer |
---|---|
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 risks involved in investing in a business |
Sales Revenues | Money that comes into 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 |
Semi-variable costs | Business costs that vary to some extent in response to sales |
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; also called fixed-cost contribution |
Variable costs | Business costs that change according to changes in sales volume |