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Cash Purchase Discount
A reduction in the amount paid for goods or services in exchange for paying in cash rather than credit.
Interest Expense
The cost incurred by an entity for borrowed funds, often a significant component of financial expense in the income statement.
Late Payment
A situation where a borrower has failed to make loan or debt repayments by the due date, often resulting in penalties.
Absorption Costing
An accounting method that includes all direct and indirect manufacturing costs in the cost of a product.
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