PRODUCT INVOICE Definition

PRODUCT INVOICE is an invoice associated with a tangible or physical item as opposed to a service or professional invoice. See PROFESSIONAL INVOICE and SERVICE INVOICE.

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LONG-TERM is a long period of time. In securities, for a bond it is 10 or more years or as it relates to a buy and hold investment strategy. In accounting, it is thought of as being in excess of 12 months, e.g. long-term liabilities. See SHORT-TERM.

MFOA is Municipal Finance Officers Association.

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