ACTUARIAL SCIENCE Definition

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ACTUARIAL SCIENCE applies mathematical and statistical methods to finance and insurance, particularly to the assessment of risk. Actuaries are professionals who are qualified in this field.

Learn new Accounting Terms

TARGET MARGIN is the desired profit on each sale; used to determine the selling price where the average total cost is known.

SUBVENTION is the provision of assistance or financial support such as an endowment or a subsidy from a government or foundation.

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