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Conditional Sales Contract
A sale agreement stating that the sale is conditional upon certain terms, often including the circumstances under which ownership is transferred.
Invoice
A document issued by a seller to a buyer, detailing a transaction and requesting payment for goods supplied or services rendered.
Open Account
A credit arrangement where goods or services are sold without immediate payment, allowing the buyer to pay at a later scheduled date.
EOQ Model
The Economic Order Quantity model is used to determine the optimal order size to minimize the sum of ordering, carrying, and stockout costs.
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