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What is the difference between need- and process-based theories?
Invoice
An Invoice is a document issued by a seller to a buyer, indicating the products, quantities, and agreed prices for products or services.
Payment
The act of transferring money, goods, or services as an exchange to fulfil a legal obligation or purchase.
Outstanding Balance
This term refers to the amount of money owed on a loan or credit account that has not yet been repaid.
Cheque
A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer.
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