STEAMSHIP CONFERENCE is an agreement between multiple shipping companies to provide common freight rates. Some shipping lines will state that they are 'non-conference', i.e., they charge an independent and likely lower rate.
MARKET ORDER is an order to buy or sell a stock at the market's current best displayed price.
UNDERABSORBED OVERHEAD is where total overhead has not been fully allocated to products sold or services offered. Such a condition can result in an understatement of COGS or cost of sales.
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