DIRECT LABOR Definition

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DIRECT LABOR is work performed by individuals which is directly related to a specific cost objective. This work is readily identifiable with a particular product or service.

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COST-OF-LIVING LEASE is a lease where yearly increases are tied to the cost of living index.

HYPOTHECATION, in securities, is the pledging of securities to brokers as collateral for loans made to cover short sales or purchase securities. In banking, it is the pledging of property to secure a loan.

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