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What does prepaid terms mean?

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Anonymous

13y ago
Updated: 5/30/2022

Prepayments are amounts paid for by a business in advance of the goods or services being received later on. Any payment made in advance can be considered a prepayment. A prepayment is not dissimilar to a deposit, but generally falls under a more set time period for fulfillment of the goods or service purchased.

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Carlos Mante

Lvl 9
3y ago

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