EQUIVALENT UNIT OF PRODUCTION Definition

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EQUIVALENT UNIT OF PRODUCTION (EPU) is based on the idea that if 100 units are all 40% complete, then 40 whole units could have been completed.

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EXEMPT is being freed from or not subject to an obligation, liability, tax, etc.; excused. Examples: exempt gifts or tax-exempt bonus.

UNLIQUIDATED can mean: not liquidated; not exactly ascertained; not adjusted or settled.

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