COMMITTED COSTS Definition

Bookmark and Share

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

MMU is Maintained Mark-Up.

DOLLAR VALUE LIFO, in the U.S., is a method of expressing the value of an inventory in monetary values rather than units. Each homogeneous group of inventory items is converted into base-year prices by using the appropriate price indices. The difference between opening and closing inventories is a measure in monetary terms of the change in the financial period.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.