BILL OF MATERIALS Definition

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BILL OF MATERIALS (BOM) is a listing of all the assemblies, sub-assemblies, parts, and raw materials that are needed to produce one unit of a finished product. Each finished product has its own bill of materials.

Learn new Accounting Terms

DEFICIT is a debit balance in the Retained Earnings account resulting from accumulated losses.

ECONOMIC VALUE (EV) is the value of an asset deriving from its ability to generate income.

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