PROFITABILITY RATIOS Definition

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PROFITABILITY RATIOS are measures of performance showing how much the firm is earning compared to its sales, assets or equity.

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OPEN ITEM is a contractual or scheduled commitment that is not yet reflected in Financial Accounting but will lead to actual expenditures in the future, e.g. a purchase order that is not shipped in full will list those unshipped items as open items within the shipping invoice.

BA see BANKER'S ACCEPTANCE.

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