LOSS LEADER Definition

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LOSS LEADER is a featured article of merchandise sold at a loss in order to draw customers.

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LUMP-SUM is an agreed upon sum of money, which is paid in full settlement all at one time.

BILLS PAYABLE, in merchant accounts, are all bills which have been accepted, and promissory notes which have been made, are called "bills payable," and are entered in a ledger account under that name, and recorded in a book bearing the same title.

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