Examlex
Which statement is false?
Peripheral Activities
Secondary or non-core operations of a company that are not essential to its primary business functions.
GAAP
Generally Accepted Accounting Principles, a set of accounting standards and procedures used in the United States to ensure financial statements are consistent and comparable.
Freight-out
The cost associated with transporting goods from the seller to the buyer, usually considered a selling expense.
Purchase Returns
Goods returned to the supplier from the buyer, often due to defects or other reasons for dissatisfaction.
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