actual cost


actual cost
The actual price paid for goods by a party, in the case of a real bona fide purchase, which may not necessarily be the market value of the goods. It is a general or descriptive term which may have varying meanings according to the circumstances in which it is used. It imports the exact sum expended or loss sustained rather than the average or proportional part of the cost. Its meaning may be restricted to materials, labor, and overhead or extended to other items

Black's law dictionary. . 1990.

Look at other dictionaries:

  • actual cost — noun : cost based on the most factual allocation of historical cost factors compare estimated cost, standard cost * * * the cost of a product based on incurred costs of material and labor required in its production. Cf. standard cost …   Useful english dictionary

  • actual cost — The actual expenditure incurred in carrying out any of the activities of an organization, especially as compared with the budgeted or standard cost …   Accounting dictionary

  • actual cost — the cost of a product based on incurred costs of material and labor required in its production. Cf. standard cost. * * * …   Universalium

  • Фактическая стоимость (база) (ACTUAL COST (BASIS))  — 1. Стоимость приобретения или историческая стоимость.  2. Сумма, определяемая на основе понесенных затрат, в отличие от прогнозируемой стоимости. Включает нормативную стоимость, скорректированную в соответствии с приемлемым отклонением. В… …   Словарь терминов по управленческому учету

  • cost of completion — n. In a breach of contract action, a measure of damages calculated by the amount it would cost to pay for a performance that would put the plaintiff where he or she would have been had the contract not been breached. The Essential Law Dictionary …   Law dictionary

  • actual — Ⅰ. actual UK US /ˈæktʃuəl/ adjective [only before noun] ► true or exact: actual amount/cost/figure »Residents are paying electricity prices that are double the actual cost of generating electricity. »There is a gap between desired and actual… …   Financial and business terms

  • cost — n 1: the amount or equivalent paid or charged for something 2 pl: expenses incurred in litigation; esp: those given by the law or the court to the prevailing party against the losing party Merriam Webster’s Dictionary of Law. Merriam Webster.… …   Law dictionary

  • Cost basis reporting — is a term used in the financial services industry that refers to identifying the actual cost of a security for income tax purposes. Cost basis reporting became mandatory on January 1, 2011. The Emergency Economic Stabilization Act of 2008 –… …   Wikipedia

  • cost-plus — ˌcost ˈplus adjective COMMERCE MANUFACTURING cost plus product/​price/​basis etc if something is made or done on a cost plus basis, it is made or done at an agreed price plus an extra amount. This is done when the cost of making a product etc is… …   Financial and business terms

  • Actual — Ac tu*al (#; 135), a. [OE. actuel, F. actuel, L. actualis, fr. agere to do, act.] 1. Involving or comprising action; active. [Obs.] [1913 Webster] Her walking and other actual performances. Shak. [1913 Webster] Let your holy and pious intention… …   The Collaborative International Dictionary of English


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