Examlex
Breeding programs for farm-raised chickens result in a variety of unusual colors and feathers.Is this an example of evolution?
Perpetual Inventory System
An accounting system that records inventory purchases or sales immediately through the use of computerized point-of-sale systems and enterprise asset management software.
Merchandise Return
Occurs when a customer returns a product to the seller for a refund, exchange, or credit, affecting the seller’s inventory and sales figures.
State Sales Tax
A tax imposed by state governments on the sale of goods and services, which varies by state and is collected by businesses at the point of sale.
Sales Tax Payable
A liability account in the general ledger that stores the amount of sales tax collected from customers, which is owed to the government.
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