RETURN ON SALES Definition

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RETURN ON SALES is a measure of a companys profitability, equal to a fiscal years pre-tax income divided by total sales.

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OPERATING TRANSFER specifically identifies the transfer of resources from one fund/account to another made to support the normal level of operations of the receiving fund/account.

EXPENDABLE NET ASSETS are those assets not required to be retained in perpetuity, i.e. those assets available for use for operations.

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