ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ABSORPTION COSTING Definition
ABSORPTION COSTING is the method under which all manufacturing costs, both variable and fixed, are treated as product costs with non-manufacturing costs, e.g. selling and administrative expenses, being treated as period costs.
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DISCOUNT ALLOWED, normally, is a reduction of the invoice amount for early payment of the invoice value.
SLIDE ERROR is the incorrect placement of the decimal point, e.g. $2545.00 is recorded as $25.45.