Glossary

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(also called factory overhead expense, indirect cost or indirect expense) expense linked to the...

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First In First Out method whereby stock is issued in the order it is received.

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ledger account prepared at the end of accounting period to find gross and net profit. There are...

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(also called year-end adjustments) adjustments the business makes to accounting entries at the...

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process of summarising financial data from the accounting records of a business and publishing...

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