Examlex
The process shown on the TV graph in the figure is an
Accrual System
An accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when cash is exchanged.
Revenue
The complete sum of earnings derived from selling goods or offering services that are central to a company's core business.
Net Sales
The total revenue from sales less returns, allowances, and discounts.
Cost of Goods Sold
The straightforward costs related to the production of goods a company distributes, encompassing materials and labor expenses.
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