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1. Which financial statement tracks the total amount of expenses that are charged to a business during a time period?
The Cash Flow Statement.
The Earnings Statement.
The Balance Sheet.
2. What are the three components of COGS?
Material, labor, and variable overheads.
Revenue, expense and net income.
Overhead, Gross profit, and Salaries.
3. What category of costs represents the costs of keeping the business running regardless of the level of sales?
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