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28: Review and Assessment
What is the equation businesses use for calculating income?
What are the three fundamental financial statements used to manage business?
What key factors must be addressed when managing both revenues and expenses for a business?
List four marketing strategies for housing and interior design businesses.
What are the drawbacks of having too much or too little inventory?
Use the formula on this page to calculate the labor cost percentage for a business with the following information for one month: $7,500 in wages, $1,350 in employee benefits, and total monthly sales of $30,000.
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