ABSORPTION VARIANCE Definition

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ABSORPTION VARIANCE is the variance from budgeted absorption costing of manufactured product. See also ABSORPTION COSTING.

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ENTITY, in business, is a separate or self-contained existence that provides goods or services.

SOCIAL ENTITY is the separate existence of an organization that is perceived to exist, by its members and the public at large, as a given, i.e. something that exists before and outside of them.

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