COMMITMENT is the act of standing behind a policy whose value ends when the policy is concluded. For example: " We made a commitment to do this".
CONTRIBUTION MARGIN (CM) is the difference between sales and the variable costs of the product or service, also called marginal income. It is the amount of money available to cover fixed costs and generate profits.
SUBSIDIARY LEDGER is a group of subsidiary accounts the sum of the balances of which is equal to the balance of the related control account in the general ledger.
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