Talk About: -​Revolution

question 95

Essay

Talk about:
-​revolution

Understand the purpose and usual amounts kept in petty cash accounts.

Identify which positions are typically compensated through commission.

Comprehend the Fair Labor Standards Act's mandates for hourly employees.

Understand the appropriate uses of funds from the petty cash account.

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Definitions:

Net Sales

The sales income left after subtracting returns, reductions for damaged or missing items, and price discounts.

Sales Revenue

The income received by a company from its sales of goods or the provision of services, before any expenses are subtracted.

Net Sales

The amount of revenue generated from sales activities after returns, allowances, and discounts have been subtracted.

Operating Expenses

Operating expenses are the costs associated with running a business’s core activities on a day-to-day basis, excluding the cost of goods sold.