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Define the following:space
Operating Expense
Costs related to the daily operations of a business, excluding the cost of production.
Credit Terms
The payment terms and conditions agreed upon by the buyer and seller, detailing the time period in which the buyer must pay the seller for the goods or services received.
Merchandise
Goods that are purchased, held, and resold by a business in the normal course of its operations.
Discount Offered
A reduction applied to the regular price of goods or services as a form of promotion or negotiation.
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