PRODUCTIVITY Definition

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PRODUCTIVITY is a measured relationship of the quantity and quality of units produced and the labor required per unit of time.

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DEPARTMENTAL ACCOUNTING is where departments within an entity have varying degrees of autonomy, but are not usually separated geographically from the rest of the business. They may be concerned with manufacturing or, in the case of a department store, with retailing. Departmental accounts usually include a trading account and may also include a profit and loss account to which overheads are allocated or imputed.

SPENDING LEVEL is the true expenditure or cash outlay of any entity in a given category or budgetary area.

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