EQUIVALENT UNIT OF PRODUCTION Definition

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EQUIVALENT UNIT OF PRODUCTION (EPU) is based on the idea that if 100 units are all 40% complete, then 40 whole units could have been completed.

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PETTY CASH, normally, is an account and location where tangible cash is stored for usage in purchasing or the reimbursing of inexpensive out-of-pocket expenditures.

SUPPLIER FINANCING is where the trade assists in meeting credit needs of a customer, e.g. a trade credit line may be negotiated to where a supplier may give 90 to 120 days to pay for the goods plus an interest charge.

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