Examlex
An Embassy Suites hotel offers an inexpensive "Family Luncheon Buffet" on Sundays to get customers for its restaurant that is filled by business travelers during week days. This effort to get new customers for the available facility is an example of
Obligation
A duty or commitment to fulfill an agreement, such as repaying a loan or delivering goods or services as contracted.
Liability
A financial obligation or debt that a company or individual owes to another entity.
Gross Profit
The financial metric calculated by subtracting the cost of goods sold from net sales, representing the profit made before deducting operating expenses.
Cost of Goods Sold
The immediate expenses linked to the creation of products a business sells, comprising both material costs and labor charges.
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