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a company must accrue for estimated future returns at the end of the period in which the related sales revenue is recognized.

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A company must accrue for estimated future returns at the end of the period in which the related sales revenue is recognized  --- True

What does sales mean?

Income is income from products and services before deduction of costs. It is typically calculated over a defined period of time, such as a fiscal year or quarter. From an accounting perspective, turnover is a component of a company's turnover. In the income statement, turnover is usually called gross turnover. Companies can also report net sales. This is the result of subtracting returns from gross sales.

Why Sales  Revenue Matter ?

Revenue is the first metric reported on the income statement. There are good reasons for this. This represents the starting point for a company to determine its net profit.

Learn more about sales revenue :

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