GENERAL ACCOUNTING Definition

GENERAL ACCOUNTING involves the basic principles, concepts and accounting practice, recording, financial statement preparation, and the use of accounting information in management.

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NET SALES TO GROSS SALES shows the percent of all transactions that may be considered as "good" net transactions. Differences may arise from returns, bad product, or other sales concessions.

REGRESSIVE TAX is a tax system to where the more income that is realized the lower the tax rate becomes.

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