Examlex
Summarize the deductions that are allowed to be made from adjusted gross income to arrive at the taxable income.
Sales
Revenue generated from goods or services sold by a company in a specific period.
COGS
Short for Cost of Goods Sold, it represents the direct costs attributable to the production of the goods sold by a company.
Factoring Costs
Expenses associated with selling accounts receivable to a third party, commonly referred to as a factor, to improve cash flow.
Accounts Receivable
Accounts receivable refers to the money owed to a company by its customers or clients for goods or services delivered but not yet paid for.
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