BANK BALANCE is the amount of money in a bank account on a particular date as recorded by a financial institution on a bank statement.
PRIME COST is equal to the sum of DIRECT MATERIAL plus DIRECT LABOR.
OFF THE BOOKS is a term associated with transactions which do not appear in any of the financial records kept by a business. Strictly speaking, 'off the books' implies cash payments received for assets (products and services) which are not officially recorded in the accounting system of the business.
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