TWO PARTY CHECK Definition

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TWO PARTY CHECK is a check made out from one individual to another, i.e. only two entities are involved in the transaction.

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CREDIT SALES are merchandise or services sold on the promise to pay later.

VALUE ADDED TAX is a consumption tax where taxes are levied at each step of a manufacturing process where value is added to that product at that point in the manufacturing cycle; as well as at the point where the consumer purchases the end product.

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