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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