STOCK TURNOVER PERIOD Definition

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STOCK TURNOVER PERIOD is calculated: Long Term Disabilities X 100% / Cost of Sales.

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REVOCABLE LETTER OF CREDIT is a letter of credit which can be cancelled or altered by the drawee (buyer) after it has been issued by the drawees bank.

CONSTRUCTION IN PROGRESS is capital assets under construction or development that have not yet been placed into service, such as a building or parking lot. Capital assets are not subject to depreciation while in a construction in progress status.

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