Examlex
Eight bits grouped together are collectively referred to as a ____.
Sales Return
goods returned by the customers to the seller after the sale, reducing the gross sales figure.
Gross Profit
The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.
Net Sales
The revenue a company earns from sales after subtracting returns, allowances for damaged or missing products, and discounts.
Allowance for Doubtful Accounts
A contra-asset account used to estimate the portion of accounts receivable that is expected to be uncollectible.
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