COMMITTED COSTS Definition

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COMMITTED COSTS are costs, usually fixed costs, which the management of an organization has a long-term responsibility to pay. Examples include rent on a long-term lease and depreciation on an asset with an extended life.

Learn new Accounting Terms

LOSS, in finance, is when expenses exceed sales or revenues, i.e. goods or services are sold for less than their cost.

MORATORIUM a legally authorized postponement before some obligation must be discharged.

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