ADMINISTRATIVE RECEIVER Definition

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ADMINISTRATIVE RECEIVER is an Insolvency practitioner appointed when a company goes into receivership (work out). A company may go straight to administrative receivership, presided over by an administrative receiver, usually known simply as the receiver.

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AMALGAMATION is a consolidation or merger, as of several corporations. In business, the distinction being that the surviving entity incorporates the asset base of others into its base.

PURCHASE ACCOUNT is an account in which all inventory purchases are recorded; used with the periodic inventory method.

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