COST OVERRUN Definition

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COST OVERRUN is the amount by which an entity exceeds or expects to exceed the estimated cost to completion of: a. a product; b. a process; or, c. the final limitations of costs stipulated in a contract.

Learn new Accounting Terms

MARGINAL REVENUE is the change in total revenue as a result of producing one additional unit of output.

ACCOUNTS RECEIVABLE RESERVE is a reserve against bad debt. See also RESERVE and RESERVE ACCOUNTS.

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