ABSORBED COSTS Definition

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ABSORBED COSTS incorporates both variable and fixed costs.

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GROSS SALES is the total revenue at invoice value prior to any discounts or allowances. See also GROSS REVENUE.

RECOVERY, in finance, a. absorption of cost through the allocation of depreciation; b. residual cost or salvage value of a fixed asset after all allowable depreciation; or, c. collection of an accounts receivable that had been previously been written off as a bad debt.

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