Examlex
In which of the following has LP been applied successfully?
Service Business
An enterprise offering services or intangible items to its clientele instead of material goods.
Periodic Inventory System
An inventory accounting system where updates are made at set intervals, typically leading to annual updates on inventory status and valuation.
Income From Operations
This refers to the profit realized from a business's ongoing core business operations, excluding deductions of interest and taxes.
Periodic Inventory Method
An accounting method where the inventory is physically counted and valued at the end of a specific period to determine cost of goods sold and ending inventory.
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