DEVIATION Definition

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DEVIATION is the departure from prescribed internal control. Often expressed as a rate at which the departure occurs.

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DOWN PAYMENT is a partial payment made at the time of purchase; the balance to be paid later as stipulated by contract; written or oral.

STRATEGIC COST MANAGEMENT is the overall recognition of the cost relationships among the activities in the value chain, and the process of managing those cost relationships to a firm's advantage. Also known as Cost Management Theory.

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