Please Define the Following Key Terms

question 25

Short Answer

Please define the following key terms. Show Who? What? Where? When? Why Important?
-Virgil

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Definitions:

Credit Sales

Transactions where the goods or services are provided to a customer with an agreement that payment will be made at a later date.

EOQ

Economic Order Quantity is the ideal quantity of inventory a company should purchase to minimize the total costs of ordering and holding.

Quantity Discount

A pricing strategy where the price per unit of an item is reduced based on the quantity purchased, incentivizing larger orders.

Carrying Costs

The expenses incurred by holding inventory or assets over a period of time.