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Periodic Inventory Method
An accounting method that updates inventory levels and cost of goods sold at the end of a financial period rather than after each sale.
Voucher Payment
A method of payment where documentation is used to authorize and record a payment transaction.
Discount Period
The time frame in which a payment made towards a purchase is eligible for a discount, typically to encourage early payments.
Financial Statement
An official document detailing the financial transactions and status of a company, person, or different entity.
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