Definition: Van Diemen's Land, the island south of mainland Australia, is now known as Tasmania. In the 1800s it was a penal colony to which the British government sent convicts. Some of the Irish rebels tried for their parts in the Young Ireland movement of the 1840s were sent to Van Diemen's Land.n the 1800s it was a penal colony to which the British government sent convicts. Some of the Irish rebels tried for their parts in the Young Ireland movement of the 1840s were sent to Van Diemen's Land.
What is contribution margin? In accounting contribution margin is defined as revenues minus variable expenses. In other words, the contribution margin reveals how much of a company's revenues will be contributing (after covering the variable expenses) to the company's fixed expenses and net income.
BREAKING DOWN 'Contribution Margin'. Consider a situation in which a business manager determines that a particular product has a 35% contribution margin, which is below that of other products in the company's product line.f these options are unattractive, the manager may decide to drop the unprofitable product in order to produce an alternate product with a higher contribution margin.