ON ACCOUNT Definition

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ON ACCOUNT is a partial payment made towards satisfaction of a debt.

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PERFORMANCE BUDGET is a budget format that relates the input of resources and the output of services for each organizational unit individually. Sometimes used synonymously with program budget.

ADMINISTRATIVE RECEIVER is an Insolvency practitioner appointed when a company goes into receivership (work out). A company may go straight to administrative receivership, presided over by an administrative receiver, usually known simply as the receiver.

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