Business Dictionary :
Approve, Approval, Approximate,
Approximately and Approximation

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Approve : verb :

(a) to approve of = to think something is good

• The chairman approves of the new company letter heading.

• The sales staff do not approve of interference from the accounts division.

(b) to agree to something officially

• To approve the terms of a contract

• The proposal was approved by the board.

Approval : noun :

(a) agreement

• To submit a budget for approval

• Certificate of approval = document showing that an item has been approved officially

(b) on approval = sale where the buyer only pays for goods if they are satisfactory

• To buy a photocopier on approval

NOTE : no plural

Approximate : adjective : not exact, but almost correct

• The sales division has made an approximate forecast of expenditure.

Approximately : adverb : almost correctly

• Expenditure is approximately 10% down on the previous quarter.

Approximation : noun : rough calculation

• Approximation of expenditure

• The final figure is only an approximation.

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