INVENTORY OBSOLESCENCE Definition

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INVENTORY OBSOLESCENCE is when inventory is no longer salable. Possibly due to too much inventory on hand, out of fashion or demand. The true value of the inventory is seldom exactly what is shown on the balance sheet. Often, there is unrecognized obsolescence.

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UN-PRESENTED CHECK is a check that was written but has not yet been forwarded to or paid by the bank on which it is drawn.

CORE BUSINESS is the sector(s) of business activity that is the reason or purpose for being, e.g. providing communications services within a telephone company would be considered core, while real estate holdings and the securities investment portfolio will likely be considered non-core business activities.

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