ACCRUED INVENTORY Definition

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ACCRUED INVENTORY functions as a "clearing" account to establish a liability for inventory physically received into the warehouse, but for which a vendor invoice had not yet arrived.

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JOB SPECIFICATION is the delineation of the knowledge, skills, and abilities along with the associated education, training, and experience required to successfully perform within a position. The stipulated criteria normally constitutes the minimum recruiting criteria or minimum qualifications for the position

FINANCIAL BUDGET is focused on capital expenditures and on a business's budgeted cash position:

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