With a Computerized Database, the Computer Stores the Data in an Electronic

question 6

True/False

With a computerized database, the computer stores the data in an electronic format on a storage medium such as a hard disk.

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Definitions:

Gross Profit

The financial performance metric that subtracts the cost of goods sold from total revenue, indicating the efficiency of the core business activities.

Net Sales

The total revenue from sales minus returns, allowances, and discounts.

Cost Of Goods Sold

The direct outlays for materials and labor involved in the production of a company's goods for sale.

Net Income

The profit of a company after all expenses, taxes, and deductions have been subtracted from total revenue.