ASSET REVERSION Definition

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ASSET REVERSION is asset recovery by the sponsoring employer through termination of a defined benefit pension fund and/or of assets in excess of amounts required to pay accrued benefits of a pension fund. In the U.S., assets recovered through reversion are subject to corporate income tax and an excise tax.

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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.

PESO is a currency of Argentina, Bolivia, Chile, Columbia, Cuba, Guatemala, Guinea-Bissau, Mexico, Philippines, and Uruguay.

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