ACCOUNTS RECEIVABLE Definition

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ACCOUNTS RECEIVABLE is a current asset representing money due for services performed or merchandise sold on credit.

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NOSTRO ACCOUNT is an account held by a bank in a foreign country in the currency of that country e.g., a German bank with an account in New York will call the record in its own books of its New York account a nostro account.

COST OBJECT is anything for which cost data is desired, e.g., products, product lines, customers, jobs, and organizational sub-units such as departments or divisions of a company.

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