ABSORB Definition

Bookmark and Share

ABSORB is to assimilate, transfer or incorporate amounts in an account or a group of accounts in a manner in which the first entity loses its identity and is "absorbed" within the second entity. For example, see ABSORPTION COSTING.

Learn new Accounting Terms

TRANSACTION DRIVERS are used to count the frequency of an activity, i.e., the number of times an activity is performed.

BOOKING, in import / export, is an arrangement with a shipping company to load and carry a shipment.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.