CROSS-ACCOUNTING Definition

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CROSS-ACCOUNTING is non-cash payment through the delivery of goods or services to satisfy a liability; a very common practice between subsidiaries of a company. See IN-KIND.

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INCORRECT ACCEPTANCE, in accounting, is the risk the sample supports the conclusion that the recorded balance is not materially misstated when it is materially misstated.

STOCKOUT is running out of inventory, e.g. the demand or requirement for an item(s) cannot be fulfilled from existing inventory.

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