FACTORY OVERHEAD Definition

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FACTORY OVERHEAD is the costs of operating a factory which cannot be assigned directly to a specific department or product.

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RESOURCE ABSORPTION, in business, is the depletion of the finite resources available to a company, i.e., labor, machinery, materials, etc.

SHORT TERM DEBT is any debt owed by a company that is due and payable within one year. The debt is often made up of short-term bank loans the company is liable for.

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