CREDIT Definition

CREDIT, in accounting, is an accounting entry system that either decreases assets or increases liabilities; in general, it is an arrangement for deferred payment for goods and services.

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MANUAL TAG SYSTEM is an inventory tracking system used in inventory management that tracks inventory using tags removed at the point of purchase.

INTEREST EXPENSE is the cost of borrowing funds in the current period. It is shown as a financial expense item within the income statement. An interest expense of zero to <15% relative to operating income, within the consumer products industry, is an indicator of a sustainable competitive advantage.

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