Examlex
Principal components of a master budget include
Realized Gross Profit
The difference between the cost of goods sold and the sales revenue received, specifically referring to profit that has been recognized once a transaction is completed.
Initial Franchise Fees
The upfront cost paid by a franchisee to a franchisor to enter into a franchise agreement, typically covering training, support, and the right to use trademarks.
Revenue Recognition
The accounting principle that determines the specific conditions under which income becomes recognized as revenue.
Installment Sales Method
An accounting method used to recognize revenue from sales where payment is received in installments over a period.
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