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Sales Returns
Goods returned by customers to the seller for a refund or credit, often due to defects or dissatisfaction.
Allowances
Amounts deducted from gross revenue or expenses, accounting for items like returns, damaged goods, or discounts.
Operating Cycles
The period it takes for a company to purchase inventory, sell it, and convert the sale into cash.
Financial Statements
Reports that provide an overview of a company's financial condition, including balance sheet, income statement, and cash flow statement.
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