JOINT COSTS are costs incurred to produce a certain amount of two or more products where the cost of producing one product cannot be logically isolated and cost allocation is arbitrary. Simplified, they are the costs of a single production process that yields multiple products simultaneously.
CREDITORS are the entities to which a debt is owed by another entity.
MULTIPLE REGRESSION of approximating cost is a statistical method that can be used to estimate a cost function when there is more than one independent variable.
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