24 Terms
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Sales
Sales is the process of selling goods or services. The process begins with the request to buy by a customer or a offer to sell by a seller. Then follows the payment and change of title.
Industry: Professional careers
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Sales
Latent demand
Professional careers; Sales
Demand for a product which can satisfy a want which is unable to be satisfied by any existing product.
Liquidity
Professional careers; Sales
Current assets, other than inventory and work in progress, to which a firm has ready access, liquidity represents a company's ability to meet its immediate liabilities.
Variable costs
Professional careers; Sales
Costs that vary directly with the volume or quantity produced, variable costs plus fixed costs equal total costs.
Direct costs
Professional careers; Sales
Costs which can be attributed directly to the production of a particular product.
Order filling costs
Professional careers; Sales
Costs associated with filling orders - warehousing, transportation, order processing, billing and collection of payments.
Holding costs
Professional careers; Sales
Costs associated with keeping inventory, including warehousing, spoilage, obsolescence, interest and taxes, also called inventory carrying costs.
Carrying costs
Professional careers; Sales
Costs associated with maintaining inventory, such as financing, storage, insurance and obsolescence.
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