NATURAL BUSINESS YEAR Definition

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NATURAL BUSINESS YEAR is a fiscal year based on the cycle of the given business rather than a calendar year. The year ends with inventories and activities at a low level, e.g., after winter shipments for a ski manufacturer.

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BROKER is an individual or firm that acts as an intermediary between a buyer and seller, usually charging a commission.

SALES is the total amount sold within a stipulated time period, usually 12 months. Sales is usually expressed in monetary terms but can also be in total units of stock or products sold.

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