Examlex
Married taxpayers who file a joint return cannot later (i.e., after the filing due date) switch to separate returns for that year.
Inventory
The complete list of items such as goods, property, and raw materials a company holds for the purpose of resale or repair.
Credit Memo
A document issued by a seller to a buyer, reducing the amount owed by the buyer to the seller, typically due to a return or an overcharge.
Gross Profit
Revenue minus the cost of goods sold (COGS), representing the profit a company makes after deducting the costs associated with making and selling its products.
Discount Period
A set time period during which a discount is available, or the period between the issuance of a bill and its payment due date where a discount may be taken for early payment.
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