From the filmmaking world, the term refers to finishing a scene and sending it to post production. Beyond movie-making, It has been synonymous with signing off or ok'ing work that has been rushed and not fully tested, or going with the first idea anyone has.
Guy 1: Hey what should we do for that supermarket ad pitch?
Guy 2: How about some talking fruit.
Guy 3: Cut! Print it!
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(adj.) Rhyming with "orange"; involving or pertaining to a word that rhymes with "orange."
Rhorange is the only known rhorange word.