APPLICATION RATE Definition

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

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STOCK ROTATION RIGHTS is a contractual stipulation that allows for a distributor to return up to a stipulated percentage of purchased goods to the supplier over a stipulated period of time. These rights are intended to ensure that a distributor is not overburdened with excessive or obsolete inventory from the supplier that granted the stock rotation rights.

GROSS INCOME see GROSS PROFIT.

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