PAYMENT Definition

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PAYMENT is the satisfaction of a debt or claim; primarily money paid to fulfill an obligation.

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INFLATION ADJUSTMENT is whenever any figure is adjusted for inflation/deflation. It simply means that all fluctuations in price (upward or downward) that are directly attributable to inflation/deflation are reflected into that figure through either adding or subtracting the amount that is directly caused by inflation/deflation.

SHORT TERM LIABILITY is a liability that will come due within one year or less.

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