ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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OPPORTUNITY LOSS Definition
OPPORTUNITY LOSS see OPPORTUNITY COST.
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COST OF SALES see COST OF GOODS SOLD.
GENERAL AVERAGE is the provision in maritime law where all shippers on a given voyage would reimburse the ship line in the event of vessel sinking or catastrophic damage. It also provides for the reimbursement to those shippers whose cargo was thrown overboard in order to save the vessel.