SALES Definition

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SALES is the total amount sold within a stipulated time period, usually 12 months. Sales is usually expressed in monetary terms but can also be in total units of stock or products sold.

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DOCUMENTARY CREDIT is an arrangement by banks for settling international business transactions. A letter of credit is a form of documentary credit.

EXEMPTED SECURITY is a security that is exempted from SEC regulations, including margin rules. Such securities include U.S. Treasury and government agency securities and municipal securities designated by the SEC.

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