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What is a Perpetual Inventory System?
Perpetual inventory systems record transactions—like inventory purchases, sales, returns, and adjustments—as they occur. This is unlike periodic inventory systems, which…
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What Is Circular Fashion? A Retailer’s Guide
Circular fashion involves designing, manufacturing, and using clothing and fashion products with the goal of extending their life cycles and…
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What Is Business Interruption Insurance? How It Works & Coverage
Business interruption coverage, sometimes referred to as loss of business income insurance, is small business insurance that provides your business…
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What is 3-way Matching in Accounts Payable & Why Use It?
A 3-way matching in accounts payable (A/P) management is the process of matching three documents—purchase order (PO), receiving report (RR),…
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Livestream Shopping: Popularity & Profitability in 2024
Livestream shopping, also called live commerce or simply live shopping, is a marketing strategy that retail businesses can use to…
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What Is a Convertible Note? How It Works & Where to Get One
A convertible note is a short-term financial document that allows a business to receive cash in exchange for equity in…
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What Are Current Liabilities? How to Calculate Them [+ Calculator]
A current liability is any financial obligation that has an amount due within the next 12 months. It can be…
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What Is an Installment Sale & How Does It Work?
Installment sales are often used for the sale of a business and for real estate transactions. This sale structure is…
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Ethical Sourcing: A Small Business Guide
There is a growing trend towards labeling business products as “ethically sourced”—but what does that term really mean? Often used…
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What is a Periodic Inventory System?
With a periodic inventory system, the determination of inventory levels and calculation of the cost of goods sold (COGS) for…
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