Dawn (from an Old English verb dagian to become day) or astronomical dawn is the time that marks, depending on the specific usage, the beginning of the twilight before sunrise, the period of the pre-sunrise twilight or the time of sunrise.
A: Capital expenditures (CAPEX) and operating expenses (OPEX) represent two basic categories of business expenses. They differ in the nature of the expenses and in their respective treatments for tax purposes. Capital expenditures are the funds that a business uses to purchase major physical goods or services to expand the company's abilities to generate profits. These purchases can include hardware (such as printers or computers), vehicles to transport goods, or the purchase or construction of a new building.
The depreciation amount is actually a sensitive measure of CAPEX as it relates to the assets that are purchased over a period of several years. This is why EBIT gives a better representation of actual earnings as compared to EBITDA, and is a better measure for lenders.