SPOT COMMODITY Definition

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SPOT COMMODITY is a commodity traded with the expectation that it will actually be delivered to the buyer, as contrasted with to a FUTURES CONTRACT that will usually expire without any physical delivery actually taking place. Spot commodities are traded in the SPOT MARKET.

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ADVANCED ACCOUNTING covers accounting operations, patterns, merger of public holding companies, foreign currency operations, changing financial statement prepared in foreign and local currencies. Advanced accounting also includes a variety of advanced financial accounting issues such as lease contracts, pension funds, end of service severance payments, etc.

ABSORPTION PRICING is where all costs, both fixed and variable; plus a percentage mark-up for profit; are recovered in the price.

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