STANDARD COST Definition

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STANDARD COST is production or operating cost that is carefully predetermined. A standard cost is a target cost that should be attained. The standard cost is compared with the actual cost in order to measure the performance of a given costing department or operation. See STANDARD COST SYSTEM.

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DEDICATED PORTFOLIO, in securities, is a portfolio where the cash flow from assets is matched in timing and amount to known liabilities.

ACKNOWLEDGEMENT OF INDEBTEDNESS is a written recognition of debt that is enforceable in law, e.g. memorandum check, bank draft, or loan contract.

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