Examlex
Why do people generally find multiple choice questions easier to answer than fill-in-the-blank questions?
Gross Profit
The difference between sales revenue and the cost of goods sold, before deducting overhead, payroll, taxation, and interest payments.
Net Profit
The remaining income after all expenses, taxes, and costs have been subtracted from total revenue.
Value Chain
A series of activities by a firm that adds value to its products or services from conception to delivery.
Primary Processes
The core activities that directly contribute to the production of goods or provision of services in an organization, such as manufacturing, assembly, and service delivery.
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