ACTUALS Definition

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ACTUALS is jargon used when speaking of an actual number experienced through some point in time as opposed to a number that is budgeted or projected into the future, e.g., year-to-date sales, expenses, product produced, etc.

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RETURN ON SALES is a measure of a companys profitability, equal to a fiscal years pre-tax income divided by total sales.

ENTITY ASSUMPTION is the assumption that financial statements are prepared for an entity that is separate and distinct from its owners.

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