NET LOSS Definition

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NET LOSS is the amount by which total of costs and expenses exceeds total revenue in an accounting period.

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STRATEGIC PLANNING is the activity of defining what you want to accomplish in your business and then identifying the path that will allow you to reach your goal in the most efficient and sensible manner.

THREE PERCENT (3%) RULE is a rule used in vesting pension plan benefits. The participants accrued benefit must be at least equal to 3% of the participants normal projected retirement benefit for each year of participation, with a maximum of 100% after 33 1/3 years of participation.

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