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Which of the following are examples of loss REDUCTION techniques?
I.wearing your seat belt while driving your car
II.polio vaccinations
III.keeping poisons locked up and out of the reach of small children
IV.wearing a helmet while skateboarding.
Sales Tax
A tax imposed by a government on the sale of goods and services.
Credit Period
Length of time allowed for payment of goods sold on account.
Discount Period
The time frame in which a payment can be made at a reduced rate.
Contra-revenue Account
An account that offsets revenue accounts on the income statement, such as sales returns, allowances, and discounts.
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