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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 Balance Sheet.
The Earnings Statement.
The Cash Flow Statement.
2. What are the three components of COGS?
Revenue, expense and net income.
Overhead, Gross profit, and Salaries.
Material, labor, and variable overheads.
3. What category of costs represents the costs of keeping the business running regardless of the level of sales?
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