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What is the difference between implied authority and apparent authority?
Operating Profit
The profit earned from a firm's normal business operations, excluding deductions of taxes and interest.
Markdown
A reduction in the selling price of goods or services, often used as a sales strategy to encourage consumer purchases or to clear older stock.
Mark-up
The difference between the cost of a product or service and its selling price, expressed as a percentage of the cost.
Spoilage
Products or materials that have become unfit for sale or use, often leading to financial loss for a business.
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