EXPENDITURE Definition

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EXPENDITURE is a cost incurred in the normal course of business to generate revenues. See expenses.

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2-WAY MATCHING is the comparison of relevant voucher to purchase order.

FLOATING RATE NOTE (FRN) is a short-term debt obligation where the interest rate is variable because it is linked to a market rate such as the 3-month T-bill rate or London Interbank Offer Rate (LIBOR).

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