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In an agency by ratification, the agent is relieved of any liability for misrepresentation.
Total Assets
The sum of all resources owned by a company or individual, including both current and long-term assets.
Net Sales
Revenue from sales after deducting returns, allowances, and discounts.
Gross Profit Rate
The gross profit rate is the percentage of revenue that exceeds the cost of goods sold, indicating the efficiency of a company in producing and selling its products for a profit.
Net Sales
The amount of sales revenue remaining after deducting returns, allowances for damaged or missing goods, and discounts from the total sales.
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