Examlex
The basic philosophy behind ____________ is to economize on inventory holding costs by having materials arrive at a manufacturing plant when needed to enter the production process?
Physical Inventory
An actual count of all merchandise or stock on hand, conducted periodically to ensure the accuracy of inventory records.
Net Income
The total profit of a company after all revenues and gains are added together and all expenses and losses are subtracted.
FOB Shipping Point
A term indicating that the buyer assumes responsibility for the goods once the seller ships them.
Net Income
The total earnings of a company after subtracting all costs and expenses, including taxes and interest, from its total revenues.
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