Net purchases are total sales minus discounts, returns, and rebates, reported at the top of the income statement. Low net purchases may indicate significant discounts or slow economic periods, while high returns may suggest falsely increased sales. Companies track net purchases to ensure they don’t significantly hurt overall sales and profits. Net purchases represent total […]
Internet shopping is not always tax-free, as it depends on where you live and where the company is located. Some states have no sales tax, while others require reporting and payment of taxes. Taxing internet use is a debated topic, but currently, most online merchants do not charge sales tax. Many people are pleasantly surprised […]
Library acquisitions involve selecting and obtaining resources that enrich the library’s collection and meet community needs. Librarians evaluate requests, monitor usage, and may receive donations, but must also weed collections to make room for new acquisitions. Different types of libraries have unique collection needs, and acquisitions librarians must understand their library’s mission to develop a […]
Net purchases are total sales minus purchase discounts, returns, and allowances. This figure is reported at the top of the income statement to provide insight into sales revenue and whether a company is falsely increasing sales. Low net purchases can indicate significant discounts, and sales allowances should be infrequent. Companies track net purchases to ensure […]
