The Amount by Which Revenues from a Customer Over Time

question 87

Short Answer

The amount by which revenues from a customer over time exceed the cost of attracting,selling and servicing that customer is known as ________ ________ ________.

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Definitions:

Raw Materials Inventory

The total cost of all component materials currently in stock that have not yet been used in work-in-process or finished goods production.

Work in Process Inventory

Work in process inventory consists of products that are in the production process but are not yet completed, representing a stage between raw materials and finished goods.

Raw Materials Inventory

The total cost or value of all the basic materials and components that are to be used in the manufacture of a product.

Accounts Payable

Liabilities owed to suppliers or creditors for goods and services received but not yet paid for.