OUTPUT VAT Definition

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OUTPUT VAT is VAT on a companys sales. See also VALUE ADDED TAX (VAT).

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BACKLOG is value of unfilled orders placed with a manufacturing company. Whether a firms backlog is rising or falling is a clue to its future sales and earnings.

REVENUE CONTRACT is a binding agreement between a governmental body and another party that defines the terms under which revenue will be received. A contract can be distinguished from a customer purchase order by the fact that a contract will contain the signatures of both parties, while a purchase order will contain only the signature of the customer.

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