Examlex
It is necessary for a company to use the same depreciation method for all of its depreciable assets.
Net Markdowns
The reduction in the original selling price of merchandise minus any markdown cancellations.
FOB Shipping Point
A shipping term indicating that the buyer assumes ownership and responsibility for goods at the moment they are shipped, with transportation costs borne by the buyer.
Net Income
The total earnings or profit of a company after all expenses have been deducted from revenues.
Physical Inventory
The process of counting and verifying the physical existence of tangible goods and assets held by a business for resale or production purposes.
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