Income
Income is a money a business or individual earns from activities like sales, services, investments, or wages. For businesses, income usually refers to revenue, which is total earnings before expenses. Net income, or profit, is what remains after all expenses, taxes, and costs are deducted.
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Inventory Turnover Ratio
The inventory turnover ratio measures how efficiently a company manages its inventory by comparing cost of goods sold to average…
Intercompany Transactions
These are transactions that occur between entities within the same corporate group, such as sales, loans, or service charges. They…
Input Tax Credit (ITC)
Input tax credit allows businesses to claim credit for the GST paid on purchases used for business operations. It reduces…
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