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________ Is a Standard Set of Terms and Graphical Notations

question 67

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________ is a standard set of terms and graphical notations for documenting business processes.


Definitions:

Physical Inventory

An actual count of all merchandise or stock on hand, conducted periodically to ensure the accuracy of inventory records.

Net Income

The total profit of a company after all revenues and gains are added together and all expenses and losses are subtracted.

FOB Shipping Point

A term indicating that the buyer assumes responsibility for the goods once the seller ships them.

Net Income

The total earnings of a company after subtracting all costs and expenses, including taxes and interest, from its total revenues.

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