PHYSICAL STOCK-TAKE see PHYSICAL INVENTORY.
DRAFT, DEMAND OR SIGHT, in import / export, is a draft payable upon presentation to the drawee. It may be used when the exporter wishes to retain control of the shipment for credit or title retention reasons. The buyer must pay the bank before receiving the documents to take custody of the goods. A COD shipment is similar.
LAND, in terms of accounting, is the value of real estate less the value of improvements, e.g. buildings.
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