The Total Cost of Logistics Is Minimal and Can Amount

question 18

True/False

The total cost of logistics is minimal and can amount to just 5-10 per cent of a product's cost.

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Definitions:

Bank Reconciliation

The process of comparing and aligning a company’s financial records with those shown in its bank statement to ensure accuracy and completeness.

Bank Service Charges

Fees charged by banks for accounts and various banking services, such as monthly maintenance or transaction fees.

NSF Checks

Checks that cannot be processed due to insufficient funds in the account on which they are drawn.

Petty Cash Fund

A minor sum of money maintained in reserve for completing instant transactions for various minor costs.