OPEN ALLOTMENT Definition

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OPEN ALLOTMENT is where there is no restriction as to an amount that may be taken from that which is being allotted.

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BILLS RECEIVABLE, in merchant accounts, are all promissory notes, bills of exchange, bonds, and other evidences or securities which a merchant or trader holds, and which are payable to him.

WORK IN PROGRESS a piece of work that is not yet finished.

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