You Work for a Small Pet Shop and the Store

question 62

Essay

You work for a small pet shop and the store manager asks you to convert some of his paper records to an online system. A simple database exists and the owner wants to add to the existing database.
Your supervisor wants a list of all the customers who purchased something recently from the store.  Can you do this with the current database design?

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Definitions:

Explicit Costs

Payments made directly to individuals or entities for business operations, including salaries, leasing costs, and supplies.

Implicit Costs

The opportunity costs of using resources that a firm already owns, rather than the expenses directly paid out.

Explicit Costs

Direct, out-of-pocket expenses incurred by a firm or individual for business operations or activities.

Accounting Profits

The financial gain calculated by subtracting total explicit costs from total revenues, using generally accepted accounting principles.