COMMISSION Definition

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COMMISSION is remuneration proportional to sales volume; stated as a percentage or monetary amount.

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AGENCY is the relationship between a principal and an agent wherein the agent is authorized to represent the principal in certain transactions.

CAPITAL RECEIPTS is proceeds from the sale of capital assets. They may be used to finance new capital expenditure or repay existing loan debt. Receipts available to finance capital expenditure in future years are normally held in the usable capital receipts reserve.

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