ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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PURCHASE AGREEMENT Definition
PURCHASE AGREEMENT is a contract stating the terms of a purchase.
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FEEDBACK is the process in which part of the output of a system is returned to its input in order to regulate its further output, e.g. a management feedback system would assess the effectiveness of management or a given process and feed the analyzed results back into management for development of positive change.
ZERO-RATED denotes goods on which the buyer pays no value-added tax although the seller can claim back any tax he/she has paid.