COST REDUCTION Definition

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COST REDUCTION is actions taken in the present designed to decrease costs in the present. See COST AVOIDANCE.

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ULLAGE is the empty space present when a shipping container is not full.

ORDER OF LIQUIDITY is when items on a balance sheet are listed in order of liquidity. After cash, the other current assets are listed in order of liquidity or nearness to cash (i.e. Accounts Receivable first, then Inventory).

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