PAYMENT TERMS Definition

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PAYMENT TERMS is the legal or contractual stipulation by a business as to when payment is to be made for goods or services supplied, e.g. cash with order, payment on delivery, or within a particular number of days of the invoice date.

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BUDGET PERFORMANCE REPORT is the comparison of planned budget and actual performance.

PER CAPITA INCOME is the mean income computed for every man, woman, and child in a particular group. It is derived by dividing the total income of a particular group by the total population in that group.

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