What is the break-even point (BEP) and why is it important? How is the BEP determined and what methods are used to identify BEP? What is cost-volume-profit (CVP) analysis and how do companies use CVP information in decision making? How do break-even and CVP analysis differ for single-product and multiproduct firms? How are margin of safety and operating leverage concepts used in business? What are the underlying assumptions of CVP analysis?