Examlex
Which of the following statements is true of ABC systems?
Net Credit Sales
The net sales of a company, calculated by subtracting returns, discounts, and allowances for damaged or missing merchandise from the total sales.
Ending Balance
The difference between footings in a T account.
Asset Turnover Ratio
A ratio that indicates how efficiently a company uses its assets to generate sales and thus helps measure the overall efficiency of the company.
Net Sales
The amount of revenue from sales transactions after deductions for returns, allowances, and discounts have been taken into account.
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