NORMAL SPOILAGE Definition

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NORMAL SPOILAGE consists of defective units that arise as part of regular operations. If normal spoilage arises from the requirements of a specific job, the cost of the spoiled units is charged to the job.

Learn new Accounting Terms

PERFORMING ASSET is an asset that provides a dependable annual financial return; for example, production machinery or, in transportation, an airliner.

GROSS SALES is the total revenue at invoice value prior to any discounts or allowances. See also GROSS REVENUE.

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