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Category killers carry a deep assortment of a particular product line and have a knowledgeable staff.
Net Income
The amount of profit left after all expenses, taxes, and costs have been subtracted from total revenue.
Current Asset
Assets that are expected to be converted into cash, sold, or consumed within one year or the business's operating cycle, whichever is longer.
Perpetual Inventory System
An inventory management system that continuously updates the quantity and value of inventory on hand and sold.
Merchandise Inventory Account
An account that tracks the cost of goods available for sale to customers during an accounting period.
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