GROSS SALES Definition

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GROSS SALES is the total revenue at invoice value prior to any discounts or allowances. See also GROSS REVENUE.

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DEPARTMENTAL ACCOUNTING is where departments within an entity have varying degrees of autonomy, but are not usually separated geographically from the rest of the business. They may be concerned with manufacturing or, in the case of a department store, with retailing. Departmental accounts usually include a trading account and may also include a profit and loss account to which overheads are allocated or imputed.

Q as the fifth letter of a Nasdaq stock symbol indicates that the company is in bankruptcy proceedings.

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