What is the definition of Absorption account? | Dictionary.net

ABSORPTION ACCOUNT

\ɐbsˈɔːpʃən ɐkˈa͡ʊnt], \ɐbsˈɔːpʃən ɐkˈa‍ʊnt], \ɐ_b_s_ˈɔː_p_ʃ_ə_n ɐ_k_ˈaʊ_n_t]\

Definitions of ABSORPTION ACCOUNT

1910 - Black's Law Dictionary (2nd edition)

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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.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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