Examlex
If the average aggregate inventory value is $1,200,000 and the cost of goods sold is $600,000, which of the following is inventory turnover?
Implied
Something suggested or understood without being directly expressed.
Traveler's Check
A preprinted, fixed-amount check designed to allow the person signing it to make an unconditional payment to someone else as a result of having paid the issuer for this privilege.
Payable On Demand
A term indicating that a payment is to be made immediately or whenever requested by the entitled party.
Countersignature
An additional signature required on a document or check to verify or approve its legitimacy, often used for security or authorization purposes.
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