Examlex
List and describe the three main "V"s that characterize Big Data.
Sale of Merchandise
The transaction process that occurs when a business sells its products, typically recorded as revenue on the income statement.
Gross Profit
The difference between total revenue and the cost of goods sold, representing the basic profit from sales before deducting any operating expenses.
Sales Revenue
The total amount of income generated by the sale of goods or services before deducting any expenses.
Cost of Goods Sold
Represents the direct costs attributable to the production of the goods sold by a company, including both materials and labor costs.
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