ADMITTED ASSETS Definition

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ADMITTED ASSETS are assets whose values are permitted by state law to be included in the annual statement.

Learn new Accounting Terms

ACR is Accounts Receivable. See ACCOUNTS RECEIVABLE.

COST OF GOODS SOLD (COGS) is a figure representing the cost of buying raw material and producing finished goods. Included are precise factors, i.e. material and factory labor; as well as others that are variable, such as factory overhead.

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