SELLING & ADMINISTRATIVE EXPENSE BUDGET is a budget of planned expenditures for non-manufacturing activities, such as sales commissions and office salaries. See OPERATING BUDGET.
VOSTRO ACCOUNT is a local currency account maintained with a bank by another bank. The term is normally applied to the counterpartys account from which funds may be paid into or withdrawn, as a result of a transaction.
DESCRIPTIVE THEORY, in property rights, describes how property rights are created or initiated, how they are transferred from party to party, and finally how property rights are terminated.
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