ABSORBED COSTS Definition

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ABSORBED COSTS incorporates both variable and fixed costs.

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STOCK TURNS is the number of times per year that the stock (raw material, wip & finished goods) is turned over in relation to the sales revenue of a given product. Calculation - Stock turns = Sales turnover of products / Value of raw material, wip & finished goods.

CABLE is the London dollar/sterling foreign exchange market - now outdated but still used by insiders.

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