ABSORBED COSTS Definition

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ABSORBED COSTS incorporates both variable and fixed costs.

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STATEMENT OF FUND BALANCE is part of the Financial Statements of certain regulated entities, e.g. local, county, and state, governments. The content or configuration of the Consolidated Financial Statements normally includes a Consolidated Statement of Fund Balance along with separate Statements of Fund Balance for all authorized funds within the jurisdiction, e.g. General Operating Fund and Airport Operating Fund.

CHECKING ACCOUNT is an account at a bank or savings and loan from which an individual can withdraw money by check, ATM card or debit card.

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