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9 Cards in this Set

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Balance sheet
a financial statement that shows assets, liabilities, and net worht of a company at a given time
Operating statement (profit-and-loss statement, income statement)
a financial statement that shows company sales, cost of goods sold, and expenses during a given period of time
Gross sales
the total amount that a company charges during a given period of time for merchandise
Cost of goods sold
the net cost to the company of goods sold
Gross margin
the difference between net sales and cost of goods sold
Operating ratios
ratios of selected operating statement items to net sales that allow marketers to compare the firm's performance in one year with that in previous years (or with industry standards and competitors in the same year)
Return on investment (ROI)
a common measure of managerial effectiveness - the ratio of net profits to investment
Markup
the percentage of the cost or price of a product added to cost in order to arrive at a selling price
Markdown
a percentage reduction from the original selling price