PAYABLES TURNOVER Definition

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PAYABLES TURNOVER is calculated: Payables Turnover = Purchases / Payables.

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CLOSING DATE is the date the purchase of the asset becomes final and you, the new owner, obtain title.

MARK ENDORSEMENT, normally, it is when a signatory (payee) cannot endorse with their signature, due to illiteracy or an infirmary, the signatory is allowed to make a mark that identifies that the signatory has signed. Such mark endorsements are normally witnessed with the witness endorsing the mark endorsement.

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