Cost Behaviour refers to the relationship and changes in total costs as a response to changes in activity levels within an organization, playing a crucial role in breakeven analysis and decision-making techniques.
Semi-variable costs, also known as mixed costs, are costs that contain both fixed and variable components. They change in response to changes in volume but by less than a proportionate amount.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.