The following technical terms appear for the first time in this Supplement. Check that you know the
Question:
The following technical terms appear for the first time in this Supplement. Check that you know the meaning of each.
Profit l Credit purchase Sales revenue l Creditor Cash sale l Trade payable Credit sale l Discount received Debtor l Expense Trade receivable l Accrued expense Discount allowed l Prepaid expense Purchases l Credit note for sales returned Cash purchase l Credit note for purchases returned
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Sure Id be happy to define these terms for you 1 Profit The financial gain that is achieved when the amount of revenue gained from a business activity ...View the full answer
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Related Book For 
Financial And Management Accounting An Introduction
ISBN: 9780273703693
4th Edition
Authors: Pauline Weetman
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