AUDIT SCOPE refers to the activities covered by an internal audit. Audit scope includes, where appropriate: audit objectives; nature and extent of auditing procedures performed; Time period audited; and related activities not audited in order to delineate the boundaries of the audit.
CLEARED ITEMS are accounts payable documents which have been paid.
UNABSORBED COSTS occurs when the cost structure does not fully reflect all variable and/or fixed costs.
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