ZERO-RATED SALES Definition

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ZERO-RATED SALES is when a sale is taxable at the rate of 0%, i.e. no sales tax. Some examples could be: basic groceries, prescription drugs or certain medical devices.

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OPEN TO BUY is the dollar amount budgeted by a business for inventory purchases for a specific time period.

CREDIT RISK is the risk of loss from an unfulfilled payment or delivery, i.e. the possibility that a borrower will default on any monies that are owed.

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