ADEQUATE DISCLOSURE Definition

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ADEQUATE DISCLOSURE is sufficient information in footnotes, as well as financial statements, indicative of a firms financial status.

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DEFLATION is a contraction of economic activity resulting in a decline of prices.

OVERHEAD ABSORPTION is the term used for describing the transfer of value from a fixed asset such as a building or machine to the final product. In this way the indirect costs of the entity can be assigned to the products or services supplied.

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