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Cost Center and Cost Unit: Meaning, Example & Differences
The cost unit and the cost center are two of the most important concepts in both cost accounting and financial…
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What are the Emerging Modes of Business ?
Business models in the world are experiencing a huge shift toward the emerging modes of business that employ the use of technology, globalization, and innovative practices. This paradigm shift places much emphasis…
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Fixed Cost vs Variable Cost: What’s the Difference?
The world of business finance considers and differs between fixed costs and variable costs as fundamental to proper budgeting and…
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What Methods Are Used to Measure the Income of Goods?
Goods create income in an economy. To track this, economists use national income measurement. Students often ask, "what methods are…
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Forms of Business Organizations: Types, Features & Examples
The business structure determines how the business functions, expands, finances itself, and meets legal and tax requirements. This business structure,…