ABATEMENT Definition

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ABATEMENT, in general, is the reduction or lessening. In law, it is the termination or suspension of a lawsuit. For example, an abatement of taxes is a tax decrease or rebate.

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CURRENT ACCOUNT in a national economy it is a category in the balance of payments account that includes all transactions that either contribute to national income or involve the spending of national income.

SAP is an integrated enterprise resource planning (ERP) system that seamlessly integrates most activities of a company.

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