AVERAGE COST Definition

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AVERAGE COST is total cost for all units bought (or produced) divided by the number of units.

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PLEDGED ACCOUNTS RECEIVABLE is short-term borrowing from financial institutions where the loan is secured by accounts receivable. The lender may physically take the accounts receivable but typically has recourse to the borrower; also called discounting of accounts receivable.

CABLE is the London dollar/sterling foreign exchange market - now outdated but still used by insiders.

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