Examlex
Use Pascal's triangle to expand the binomial.
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Perpetual Inventory Method
An accounting practice where the inventory records are updated immediately after every addition or subtraction, providing a continuously accurate inventory level.
Journalize
The act of recording business transactions in the chronological accounting record known as the journal.
Terms 2/10, N/30
A payment term indicating that a buyer can take a 2% discount on the invoice amount if the payment is made within 10 days; otherwise, the full invoice amount must be paid within 30 days.
Perpetual Inventory Method
The perpetual inventory method is a system of accounting for inventory that continuously updates the quantity and value of inventory items after every transaction.
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