AS-IS CONDITION Definition

AS-IS CONDITION is the transfer of title to a property in an existing condition with no warranties or representations.

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DEFERRED ANNUITY is an annuity in which the income payments/withdrawals begin at some future date

MARGINAL COST is a calculation showing the change in total cost as a result of a change in volume, e.g. if one more item of output increases the total cost by $25, the marginal cost is $25. It is usually useful to determine marginal cost because it can aid in determining if the rate of production should be altered.

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