Prefinals Flashcards
1
Q
Results when sales exceed the cost to produce good or reader the services.
A
Revenue
2
Q
Used when the nature of business is merchandising or retailing.
A
Sales
3
Q
4M
A
Manpower
Material
Machine
Method
4
Q
Gross income
A
Profit
5
Q
Purchases price of the product including the total outlay required in producing it
A
Cost
6
Q
Refers to the amount added to the cost to come with the selling price
A
Markup
7
Q
A
