OUTPUT VAT Definition

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OUTPUT VAT is VAT on a companys sales. See also VALUE ADDED TAX (VAT).

Learn new Accounting Terms

BAD DEBT EXPENSE see UNCOLLECTIBLE ACCOUNT EXPENSE.

PROCESS COSTING is a method of cost accounting applied to production carried out by a series of chemical or operational stages or processes. Its characteristics are that costs are accumulated for the whole production process and that average unit costs of production are computed at each stage.

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