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.

More On This Topic
  1. Legalities Of Bitcoin And Other Cryptocurrency
  2. What Does Pod Mean On A Bank Account?
  3. Flexible Spending Account (FSA): Limits, Expenses & FAQ
  4. What To Expect With An IRA: Traditional, Roth, SEP, & SIMPLE
  5. How Do I Withdraw Money from My Bank Account in Another Country?
  6. How Do I Remove Someone’s Name Off of a Joint Bank Account?
  7. What Is Police Brutality?
  8. How To Avoid Probate
  9. Nepotism, Cronyism, & Favoritism: Illegal Or Unethical?
  10. Is Inheritance Taxable?

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


Link to This Definition
Did you find this definition of ABSORPTION ACCOUNT helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary