CREDIT SALES Definition

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CREDIT SALES are merchandise or services sold on the promise to pay later.

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MRP see MATERIAL REQUISITION PLANNING.

INFORMATION / INFORMATIONAL RETURN is one of many returns that only communicates to the Internal Revenue Service information relevant to tax liability and does not compute the actual liability of any taxpayer or accompany the actual payment of tax; used for sale of property, dividends, and others (e.g., W-2 and Forms 1099).

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