SAME STORE SALES Definition

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SAME STORE SALES is used when analyzing the retail industry. It compares sales in stores which have been open for a year or more.

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CONSISTENCY PRINCIPLE requires accountants to apply the same methods and procedures from period to period. When they change a method from one period to another they must explain the change clearly on the financial statements.

BALANCE SHEET GEARING is the ratio of interest-bearing debt to equity.

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