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.

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INCORPORATION is a legal process through which a company receives a charter and the state in which it is based allows it to operate as a corporation.

INDICATIVE is a stock price quote that is non-firm. All quotes displayed by Market Makers in OTCBB issues are required to be firm, with the exception of DPPs which are limited to indicative quotes only.

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