INFLATION Definition

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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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ACCOUNTS RECEIVABLE is a current asset representing money due for services performed or merchandise sold on credit.

TENDER is to offer a product for sale at a specified price. A tender is issued usually in response to a specific request from a potential purchaser, e.g. government procurement.

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