What is ABSORPTION ACCOUNT?

1. In the process of creating a financial statement a ledger account is absorbed into another. 2. The account where overhead is listed against the volume of production.

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Related Legal Terms
ABSORPTION, MANUFACTURING ACCOUNT, OVERHEAD ABSORPTION, RECONCILIATION ACCOUNT, SUMMARY ACCOUNT, ACCOUNT STATEMENT, ABSORPTION COSTING, ABSORPTION PRICING, ABSORPTION RATE, ABSORPTION VARIANCE


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