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Term: Purchasing -> Purchase
Term:

Purchase

Definition:

an acquisition of commodities or services obtained by contract, whether by rent, lease, installment or lease purchase or outright purchase. The following are not purchases:

1. Transfer, sale or exchange of personal property or services between governmental agencies;
2. Commodities purchased for resale to the general public as outlined in Section 287.012, except Class B printing; Utilities; or,
3. Public communications, i.e., telephone, telegraph, but not including private communications systems for internal institutional use.

Related terms:

Return on equity

Risk Management

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