ACTUAL COST Definition

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ACTUAL COST is the amount paid for an asset; not its retail value, market value or insurance value.

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SPECULATOR is an investor who is willing to accept sub­stantial risk for the possibility of a large return.

SERVICE LEVEL AGREEMENT (SLA) is performance objectives reached by consensus between the user and the provider of a service, or between an outsourcer and an organization. A service level agreement specifies a variety of performance standards that may or may not include "service level."

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