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A binding obligation that goes with property when it is transferred to a new owner, who must abide by the obligation, is called a:
Cost of Merchandise Sold
The direct costs attributable to the production of the goods sold by a company.
Invoice Terms
The conditions stipulated on an invoice, including payment due date, discount opportunities for early payment, and penalties for late payment.
n/30
Payment terms indicating the net amount is due in full within 30 days.
Estimated Returns Inventory
A current asset that is reported on the balance sheet after inventory.
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