PURCHASE REQUISITION Definition

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PURCHASE REQUISITION is a written request for goods to be purchased. It is usually prepared by a department head or manager and sent to a firms purchasing department.

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CONVENTION is an agreement, principle or statement expressed or implied that is used to solve given types of problems. Conventions allow a standardized approach to problem solving and behavior in certain situations. For example, placing debits on the right and credits on the left of an account is termed an accounting convention.

BANCASSURANCE is a general term describing the broader financial services activities of banks and building societies, in particular their 'insurance company' activities.

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