ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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STATUTORY LAW Definition
STATUTORY LAW is law enacted by the legislative branch of government, as distinguished from case law or common law.
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LAPPING is a scheme to cover an embezzlement by using payments made by one customer to reduce the receivables balance of another customer.
NET CONTRIBUTION is the amount remaining after all relevant deductions have been made to the gross amount, e.g., Net Contribution to Margin.