LONG-TERM RECEIVABLE Definition

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LONG-TERM RECEIVABLE, in accounting, is any receivable that is scheduled or projected for receipt in greater than a 12-month period, e.g. notes receivable or a receivable in litigation.

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SUBJECT TO, in accounting, was a type of qualified audit opinion that was worded "In our opinion, subject to....." Auditors are no longer permitted to issue such opinions.

UNABSORBED COSTS occurs when the cost structure does not fully reflect all variable and/or fixed costs.

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