ADEA Definition

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ADEA is Age Discrimination in Employment Act of 1967.

Learn new Accounting Terms

SALES ALLOWANCE is an offer of a lower price as an inducement to the buyer to accept delivery under special circumstances, e.g. when the merchandise delivered is not exactly what was ordered.

STOCKTAKING is the process of counting and evaluating stock-in-trade, usually at an organizations year end in order to value the total stock for preparation of the accounts. In more sophisticated organizations, in which permanent stock records are maintained, stock is counted on a random basis throughout the year to compare quantities counted with the quantities that appear in the, usually, computerized records.

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