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 ?
Following this purchase he owns 16,081 Yara shares.
Cash remains the payment method of choice for the last in-store purchase for half of all respondents (51.4 percent).
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. Purchasing needs to know who in the company is engaged in "maverick spending," outside of vendor contracts.
In addition the taxpayer's expert demonstrated that the company did not have to use the borrowing solely to purchase stock; it could have used the money to purchase many other items.
Components who wish to nominate electronic solutions other than use of the existing banks systems must work with the Purchase Card Program Office, the Office of the DoD Comptroller, and the appropriate Component-level audit community to validate that all of the required internal controls in the proposed alternate capability are resident and operate properly in a limited production environment before a full implementation is approved.
The tax consequences of home purchase programs vary, depending on the program's structure.
Small businesses don't have to do business with the government in order to take advantage of the purchasing card, says Gary Rice, senior account executive at Atlanta-based Global Payments Inc., which sets up companies to accept Visa and Mastercard purchases. He says many large corporations also use the cards and seek out suppliers who accept them.
Commercial item or catalog pricing also facilitated ordering via electronic media, and more importantly, allowed ordering using the government purchase card and a warranted Ordering Officer within the group.
The second point came on or about December 2, 1997, when Respondent Carl Thomas and his wife, Respondent Eva Thomas, made a purchase of shares through a nominee which brought their joint ownership from about 18,814 to approximately 20,539 shares and elevated the Purchasing Group's ownership to over 25 percent.
Weaknesses in VHA's controls over the use of purchase cards and convenience checks resulted in instances of improper, wasteful, and questionable purchases.