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Velleman Says

question 186

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Velleman says. "Just as a single point in space can contain only part of an extended object, a spatial part, so a single point in time can contain only part of a persisting object, a temporal part. The object fills time by having one temporal part after another, just as it fills space by having one spatial part next to another. An object that persists through time in this way is said to ..."


Definitions:

Operating Expenses

Expenses incurred during the ordinary course of business operations, including costs related to sales, administration, and general activities.

Net Income

The remaining revenue after all costs, expenses, and taxes have been subtracted from a company's total revenue; essentially, a company's profit.

Periodic Inventory

An inventory system in which the inventory count is conducted at specific periods, determining the cost of goods sold by beginning inventory plus purchases minus ending inventory.

Merchandise Inventory

Goods a company intends to sell to customers that are stored as inventory.

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