OPEN ITEM Definition

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OPEN ITEM is a contractual or scheduled commitment that is not yet reflected in Financial Accounting but will lead to actual expenditures in the future, e.g. a purchase order that is not shipped in full will list those unshipped items as open items within the shipping invoice.

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BOND PREMIUM is the excess of the issue price over the face value of the bond.

ADMINISTRATIVE/ADMINISTRATION COST see INDIRECT COST.

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