LIP ACCOUNT Definition

Bookmark and Share

LIP ACCOUNT see LOAN-IN-PROCESS ACCOUNT.

Learn new Accounting Terms

MAJORITY CONTROL is the degree of control provided by a majority position.

ABSORPTION COSTING is the method under which all manufacturing costs, both variable and fixed, are treated as product costs with non-manufacturing costs, e.g. selling and administrative expenses, being treated as period costs.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.