Examlex
In an airline reservation system, the cost of an airline ticket is required. Which data type should be used to store this value?
Net Income
Net income is the ultimate profit a company achieves after subtracting all taxes, expenses, and costs from its total income.
Commercial Substance
A situation where the future cash flows of a business are expected to change significantly as a result of a transaction.
Plant Assets
Long-term tangible assets used in the operation of a business that are not intended for sale.
Recognized Immediately
The principle of recording revenues or expenses in the accounting period when they occur, regardless of when cash is received or paid.
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