ABSORBED COSTS Definition

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ABSORBED COSTS incorporates both variable and fixed costs.

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LESSOR is the party who conveys specified property to another for a period of time in return for the receipt of rent.

INTERIM STATEMENT is a financial report covering only a portion of a fiscal year (prepared by accountants, but usually unaudited). Quarterly statements from publicly traded companies are one example of an interim statement. Interim statements are not as detailed or as exact as annual statements.

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