Res Judicata Means

question 16

Multiple Choice

Res judicata means

• A)the thing has been decided.
• B)let the master answer.
• C)borrowed servant doctrine.
• D)the thing speaks for itself.

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Definitions:

Gross Profit

The financial gain obtained after subtracting the cost of goods sold from the revenue generated from sales.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, preparing the accounts for the next period.

Merchandising Business

A type of business that purchases goods and sells them to consumers without changing their form.

Service Business

A business that provides intangible products or services to customers, often involving skilled labor or professional expertise.