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Nonfinancial rewards cannot be used as incentives in pay-for-performance plans.
Net Income
The profit a company has after deducting all its expenses from its total revenue.
Unit Costs
The cost incurred to produce, purchase, or supply one unit of a product or service, calculated by dividing total costs by the number of units produced or purchased.
Inventory Items
Goods or materials that a business holds for the purpose of sale or production.
Retail Inventory Method
An accounting method used by retailers to estimate inventory cost by using a consistent markup and grouping similar items.
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