ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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BILL IN PLACE Definition
BILL IN PLACE see SHIP IN PLACE.
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VALUE ADDED TAX is a consumption tax where taxes are levied at each step of a manufacturing process where value is added to that product at that point in the manufacturing cycle; as well as at the point where the consumer purchases the end product.
PMSI is Purchase-Money Security Interest; it is normally a lien resulting from a purchase, e.g. an auto loan.