TARIFF, usually, a countrys tax on imports. May sometimes refer to the rate of tax; and, is used interchangeably with the term 'duty'.
ACCRUED INVENTORY functions as a "clearing" account to establish a liability for inventory physically received into the warehouse, but for which a vendor invoice had not yet arrived.
EBIT is Earnings Before Interest and Tax. EBIT is an indicator of a companys financial performance calculated as revenue less expenses excluding tax and interest. It is sometimes referred to as operating earnings.
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