WORK IN PROCESS Definition

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WORK IN PROCESS is parts and subassemblies in the process of becoming completed finished goods.

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RECOURSE, in finance, is the right to demand payment from the maker or endorser of a negotiable instrument (as a check). See RECOURSE NOTE.

PRICE FIXING is an illegal practice where competing companies agree, informally or formally, to jointly restrict or control prices within a specified range.

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