Cutoffs refer to specific thresholds or limits used in various contexts, such as education, finance, and sports. In academic settings, cutoffs often determine the minimum scores required for admission to a program or for passing an exam. For example, a university may set a cutoff score of 75% for applicants to be considered for a particular course. In finance, cutoffs can indicate deadlines for transactions or reporting. For instance, a cutoff date may be established for financial statements, meaning that any transactions occurring after this date will not be included in that reporting period. Understanding cutoffs is essential for making informed decisions in these areas.