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Which of the following is NOT true of the Wada test?
Sales Discounts
Sales discounts are reductions in price offered to customers, typically to encourage prompt payment or bulk purchases.
Net Sales
The amount of sales generated by a company after deducting returns, allowances for damaged or missing goods, and any discounts allowed.
Perpetual Inventory System
An accounting methodology that records goods transactions immediately through the use of electronic systems, continuously updating inventory records.
Sales Returns
The process of returning purchased goods to the seller, often resulting in a refund to the buyer and an adjustment in sales revenue for the seller.
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