ORIGINAL EQUIPMENT MANUFACTURER Definition

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ORIGINAL EQUIPMENT MANUFACTURER (OEM) is a company that builds components or systems that are used in systems or products sold by another company using the purchasing companys brand. Sometimes referred to as "private label."

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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.

13TH PERIOD in the fiscal year is the period used for fiscal year-end adjusting entries (periods 1-12 being the months in the fiscal year).

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