Examlex

Solved

This Term Represents a Set of Concepts and the Proposed

question 18

Multiple Choice

This term represents a set of concepts and the proposed relationships among these; a structure that is intended to represent or model something about the world.


Definitions:

Gross Sales

The gross sales income of a business before subtracting any returns, allowances, or discounts.

Credit Sales

Sales transactions where payment is not received at the time of purchase but is instead deferred to a later date.

Cash Sales

Transactions where goods or services are paid for with cash at the time of the sale.

Sales Discount

is a reduction in the listed price of a product or service offered to customers as an incentive to prompt payment.

Related Questions