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Break-even Point {Ans: The amount of sales at which total costs of the number of units sold equal total revenues; the point at which there is no profit or loss.}Operating Income {Ans: A line on the income statement that reports the results of what a company does on a daily basis; calculated by sales minus cost of goods sold minus operating expenses.}Raw Materials Inventory {Ans: Inventory of raw materials that have not yet begun the production process.}Internal Transaction {Ans: A transaction that occurs within a company, does not involve an external party, and is not recorded in the company's financial records.}Absolute Cell Reference {Ans: A cell reference that remains constant when a formula is pasted into a new cell.}International Accounting Standards Board (IASB) {Ans: A committee formed to develop international accounting standards.}