SALES ORDER Definition

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SALES ORDER, also known as SALES CONTRACT, is a contract by which buyer and seller agree to the terms and conditions of a sale.

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APPLICATION RATE is the quantity (mass, volume or thickness) of material applied per unit area.

RECORDING PRINCIPLE of Accrual Basis of accounting is the recording of data based upon the period in which they are earned or incurred regardless of whether cash is received or disbursed in that period. The recording principle of 'Cash Basis' is the recording of data based on a cash transaction occurrence between two parties (an actual event).

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