Examlex
Priceline.com is an example of which of the following types of brokerage sites?
Gross Amount
The total sum before any deductions are made, such as taxes or discounts.
Merchandise
Merchandise encompasses the goods and products that a retail business purchases to then sell to its customers.
Lower of Cost
An accounting principle requiring that inventory be recorded at the lower of its historical cost or market value if the market value drops below cost.
Net Realizable Value
The estimated selling price in the ordinary course of business, minus the estimated costs of completion and the estimated costs necessary to make the sale.
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