Examlex
Which of the following is true of the V-model?
Perpetual Inventory System
A perpetual inventory system is a method of tracking inventory in real-time, with continuous updates to inventory records as sales and purchases occur.
Gross Method
An accounting practice where discounts for prompt payment are recorded as reductions of expense if taken.
General Journal Entries
Records of financial transactions not assigned to specific accounts in the general ledger, but recorded in a general journal.
Gross Margin
The difference between revenue and cost of goods sold divided by revenue, expressed as a percentage, indicating the financial health and efficiency of a product or business.
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