Purchase


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Related to Purchase: Purchase accounting

Purchase

Buy; be long; have an ownership position.

Buy

To take ownership of some asset in exchange for some monetary remuneration. Buying may take any of several forms. In a cash purchase, the buyer gives cash or a cash equivalent immediately in exchange for the asset. In a credit sale, the buyer takes ownership immediately in exchange for future payment, often with interest. An example of buying is a simple transaction involving widgets. If the buyer is willing to pay $2 per widget and the seller wishes to sell 100 widgets, then the seller gives to the buyer 100 widgets and, in their place, receives $200. See also: Sale.
References in periodicals archive ?
In internal succession, buyers will sometimes consider the purchase only if the selling CPA has already successfully transitioned client relationships and responsibilities to other firm members, including the buyer.
Customers want and often demand fast and individualized service, with purchase orders fulfilled as soon as they arrive.
Auditors also found that in some cases the property purchased with the cards was not properly listed in record books and in four cases, including the purchase of computers valued at $11,258, there were no records at all.
HCWH has influenced the largest for-profit hospital chain, HCA, to phase out its purchase of mercury-containing medical products.
351 transaction as a purchase when property is acquired in exchange for any cash or cash item, marketable stock or security or transferor's debt.
Purchase for $350,000 for a three story, mixed-use, walkup w/2 apts and 1 comm'l unit, located in Brooklyn, NY.
Some firearms traffickers obtain photo identification such as a driver's license in a state where they do not reside for the sole purpose of fraudulently proving residency to purchase firearms.
Scenario 2: The same employee buys the $150 item directly from the vendor, using her corporate purchase card, and gets it immediately.
Purchasing lead time is reduced by avoiding involvement of purchasing and accounts payable staff and avoiding the costly and time-consuming paperwork of requisitions and purchase orders.
For example, the data do not include derailed information about the financial circumstances of loan applicants or the characteristics of the properties that applicants sought to purchase, refinance, or improve.
The company may, in the future, purchase additional shares of its preferred stock, although the company and its affiliates are prohibited from purchasing shares until at least ten business days after December 19, 2006.
Two problems have emerged: (1) The exemption is narrowly defined, such that many purchases and sales must still be accounted for as derivative contracts, and, in any case, the effort to assess whether FAS 133 applies has not been obviated; and (2) applying the normal purchase-and-sales exemption may mask a company's risks and opportunities.