NETTING Definition

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NETTING can be the settling of mutual obligations at the net value of a contract as opposed to its gross dollar value; or, the reduction of transfers of funds between subsidiaries or separate companies to a net amount.

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ENGINEERED COSTS are those costs having a clear linkage to output, e.g., direct materials costs.

OPERATING COST is the expense of maintaining property (e.g., paying property taxes and utilities and insurance) it does not include depreciation or the cost of financing or income taxes. Also known as OPERATING EXPENSE.

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