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 ?
To address this concern, buyers often will condition the payment of the full purchase price on the clients remaining with the buyer for a certain time period, generally between two and five years.
AP should provide purchasing with reports by vendor and expense category (and line-item, if possible) of non-PO invoices, reimbursables and P-card purchases.
The school has rethought just about every aspect of its procurement system, beginning with the elimination of paper requisitions way back in 1992, to the development of a Web-based shopping engine for everyday purchases, to a new initiative that seeks to eventually eliminate paper checks to all regular vendors.
Isn't it time to select products, get bids and approvals, and purchase these fully online?
Auditors also found that in many cases Edwards records lacked documentation that purchase cardholders had received initial training on regulations.
Seeing that purchasing recycled was safe and cost-competitive, many large corporations and private universities have also begun to purchase recycled, and individual consumers may soon follow suit.
For example, a direct purchase by Distributing of all Controlled stock, followed by a distribution of that stock, would have been a disqualified distribution under the proposed regulations.
Purchase for $235,000 for a three story, mixed-use, walkup w/2 apts and 1 comm'l unit, located in Brooklyn, NY.
The straw purchase serves as another method often employed by an illegal firearms trafficker who cannot legally purchase firearms.
First she fills out a detailed purchase requisition in triplicate and gets the formed signed by the appropriate manager; then the order is submitted to the company's purchasing departments.
Procurement cards are used by companies to purchase a wide variety of goods and services necessary to their operation.
Designed for business-to-business transactions of less than $5,000, purchasing cards are essentially "payment cards" which streamline the purchasing system by eliminating the need for purchase orders as well as the time-intensive tasks of receiving, processing and settling numerous invoices.