COST-VOLUME-PROFIT ANALYSIS Definition

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COST-VOLUME-PROFIT ANALYSIS (CVPA) examines the behavior of total revenue, total costs and profit as changes occur in the output level, selling price and variable costs per unit or fixed costs.

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EFFORT-EXPENDED METHOD measures the percentage of labor hours incurred to date as compared to estimated total labor hours for each contract.

FULL DISCLOSURE, generally, is the requirement to disclose all relevant or material facts to a transaction.

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