YIELD VARIANCE Definition

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YIELD VARIANCE is the effect of varying the total input of a factor of production; e.g., direct materials or labor; while holding constant the input mix, i.e. the proportions of the types of materials or labor utilized, and the weighted average unit price of the factor of production.

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ACCOUNTING ENTITY ASSUMPTION states that a business is a separate legal entity from the owner. In the accounts the business' monetary transactions are recorded only.

SAME STORE SALES is used when analyzing the retail industry. It compares sales in stores which have been open for a year or more.

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