Which Two Key Changes Discussed in the Chapter Are Responsible

question 46

Essay

Which two key changes discussed in the chapter are responsible for globalization taking off?

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Definitions:

Gross Profit

The difference between revenue and the cost of goods sold before accounting for certain other costs.

Net Sales

The revenue from sales after deducting returned goods, allowances for damaged or missing goods, and any discounts allowed.

Cost Of Goods Sold

The expenditures directly associated with manufacturing goods that a company sells, consisting of materials and labor.

Departmental Gross Profit

The gross profit of a specific department within a business, calculated by subtracting the cost of goods sold from the sales revenue of that department.