Merchandising Terms

What refers to gross receipts of the business from the sale of merchandise?

It engages in trading the goods above cost

A deduction from the invoice cost due to prompt payment of the owner.

The return of goods sold by the customer due to defects on the merchandise

The transportation cost of the goods bought for sale.

All expenses incurred in connection w/ the business operations.

Goods or items bought for resale.

What do you call on the revenue under merchandising activity?

What financial statement shows the result of the business operation?

The decrease in value of an asset.