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Term of the Day
purchase returns and allowances
purchase requisition
purchase-money mortgage
Definition
A type of
account
that is
set up
by a
business
for the purpose of
recording
the
return
of items or
goods
that are returned by
customers
due to defect or some other reason.
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Popular 'Accounting' Terms
current ratio
equity
working capital
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revenue
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negotiable
net profit
net worth
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