FINISHED GOODS INVENTORY Definition

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FINISHED GOODS INVENTORY (FGI) is that portion of goods in inventory which have completed manufacture and are available for sale.

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CONSERVATISM PRINCIPLE provides that accounting for a business should be fair and reasonable. Accountants are required in their work to make evaluations and estimates, to deliver opinions, and to select procedures. They should do so in a way that neither overstates nor understates the affairs of the business or the results of operation.

DELINQUENCY RATIO is the ratio of past-due loans to total number of loans serviced.

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