Business, Legal & Accounting Glossary
1. Ledger account absorbed into other accounts in the preparation of a financial statement. 2. Account that shows the amount of overhead borne by (charged against) the volume of production.
An account opened when a system of double-entry cost accounting is in operation to show the amount of overhead that has been absorbed by the production.
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This glossary post was last updated: 18th July, 2019 | 75 Views.