ACCOUNTS RECEIVABLE TURNOVER Definition

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ACCOUNTS RECEIVABLE TURNOVER is the ratio of net credit sales to average accounts receivable, which is a measure of how quickly customers pay their bills.

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REDISCOUNT is to discount short-term negotiable debt instruments for a second time, after they have been discounted with a bank.

ABSORPTION COSTING is the method under which all manufacturing costs, both variable and fixed, are treated as product costs with non-manufacturing costs, e.g. selling and administrative expenses, being treated as period costs.

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