ABSORPTION Definition

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ABSORPTION see ABSORB.

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INVESTMENT CENTER is the responsibility center within an organization that has control over revenue, cost, and investment funds. It is a profit center whose performance is evaluated on the basis of the return earned on invested capital, e.g. corporate headquarters or a division of a large decentralized organization.

SOP is Statements of Position (within the AICPA or FASB) or Standard Operating Procedure.

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