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Merchandising Company
A business that purchases finished goods for resale, making a profit on the sales margin.
Income Statement
A financial statement that reports a company's financial performance over a specific accounting period, highlighting revenue, expenses, and profits or losses.
Merchandise Inventory
Goods that a company holds with the intent to sell them as part of its business operations; considered a current asset on the balance sheet.
Balance Sheet
A balance sheet is a financial statement that provides a snapshot of a company’s financial position at a specific date, showing assets, liabilities, and shareholders’ equity.
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