Question 1

What is operating leverage? Can firms (or families) with no debt carry operating leverage? what is a good example? I'm looking for a thorough explanation. Thank you!

Question 2

Aside from the Operating leverage and financial leverage similarities and the measures that could be positively, negatively, unrelated is there more important things to look at from a CFO perspective to avoid debt or other risks and to bring a firm into success? I'm looking for a thorough explanation. Thank you!