PRIME COST Definition

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PRIME COST is equal to the sum of DIRECT MATERIAL plus DIRECT LABOR.

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FINANCIAL PROJECTIONS are prospective financial statements that present, given one or more hypothetical assumptions, an entity's expected financial position, results of operations, and changes in financial position. A financial projection includes several alternative scenarios while a forecast is the single most likely scenario.

PROXY is a person authorized to act for another, e.g. a power of attorney document given by shareholders of a corporation authorizing a specific vote on their behalf at a corporate meeting.

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