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Scandinavia by the Twelfth Century

question 32

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Scandinavia by the twelfth century


Definitions:

Budgeted Sales

The sales numbers a company projects to achieve in a future period, usually part of financial planning and budgeting.

Gross Margin

The difference between the sales revenue and the cost of goods sold, which shows the profitability of a company’s core activities.

Selling

The process of promoting and transferring ownership of goods or services to customers.

Administrative Expenses

Costs related to the general administration of a business, such as salaries of executive officers, legal and office supplies.

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