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16 Cards in this Set
- Front
- Back
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Revenue |
Total income realized from sales of product or services and investments |
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Cost |
Total amount of money spent by the company |
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Profit |
The revenue minus the total cost |
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Gross sales |
Total collected form the sale of goods |
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Net sales |
The gross sales minus my returns or allowances |
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Gross profit |
Net sales minus the cost of goods sold |
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Net profit |
The gross profit minus all overhead expenses |
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Gross profit margin |
Ratio expressed as a percent |
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Retail |
To sell goods in small quantities to a retailer for resale |
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Wholesale |
To sell goods in large to a retailer for resale |
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Wholesale price |
Price at which goods are sold by the wholesaler, also the price retailers pay for the inventory |
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Break even |
Neither profit or loss |
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8 principles for saving money on clothes |
-wait for sales don't buy on impulse -save money for coming sales - early arrival to a sale -be aware of no return policies -unless happy with both fit and appearance do not buy it -compare prices as you shop -second-hand stores may offer greater savings |
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2 advantages of buying online |
-lower prices -no sales tax |
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6 disadvantages of buying off the internet |
-might not fit -color or quantity variation -extra money for shipping -security for credit cards |
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2 important facts to realize when budgeting your money |
-realize that God has promised to meet needs |
