Examlex
Which of the following statements explains why infrared satellite images are computer enhanced?
Closing Entries
Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, preparing the company's books for the next period.
Net Sales
The sum a company receives from its sales, after accounting for returns, compensations for damaged or missing items, and discount deductions.
Gross Profit
The difference between the revenue from sales and the cost of goods sold, before deducting overheads, interest, and taxes.
Cost of Goods Sold
Cost of goods sold (COGS) is the direct costs attributable to the production of the goods sold by a company, including materials and labor.
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