SALES ALLOWANCE Definition

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SALES ALLOWANCE is an offer of a lower price as an inducement to the buyer to accept delivery under special circumstances, e.g. when the merchandise delivered is not exactly what was ordered.

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MATCHING, in accounting, is the matching of invoices to purchase orders and delivery notes prior to payment.

SCOPE PARAGRAPH, in accounting, is the paragraph in the audit report that explains the scope of the engagement.

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