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________ is the process that cancels via offset all, or part, of the debt owed by one entity to another related entity.
Operating Expenses
Expenses incurred from a company's primary business activities, excluding cost of goods sold, such as rent, salaries, and utility bills.
Gross Profit
The difference between revenue and the cost of goods sold, before deducting overhead, payroll, taxation, and interest.
Cost of Goods Sold
Cost of goods sold is the direct costs attributable to the production of the goods sold by a company, including material and labor expenses.
Gross Profit Rate
The ratio of gross profit to net sales, expressed as a percentage, indicating the efficiency of a company in managing its direct costs.
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