AFFILIATE Definition

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AFFILIATE is a relationship between two companies when one company owns substantial interest, but less than a majority of the voting stock of another company, or when two companies are both subsidiaries of a third company.

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RECEIVING REPORT is a document completed in the receiving department, which identifies the purchase order that initiated the purchase, and the date, quantity, and condition of goods received.

INFLATION is an increase in the general price level of goods and services; alternatively, a decrease in the purchasing power of the dollar or other currency.

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