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What are the two policy-making bodies of the Federal Reserve?
Gross Profit Rate
The ratio of gross profit to total sales, indicating the percentage of revenue that exceeds the cost of goods sold.
Net Income
The amount of earnings left after all expenses, including taxes and operating costs, have been subtracted from total revenue; a measure of company profitability.
Operating Expenses
These are costs associated with the day-to-day operations of a business, excluding direct production costs but including items like rent, utilities, and administrative salaries.
Periodic Inventory System
An accounting method where inventory levels and cost of goods sold are updated at specific intervals, rather than continuously.
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