AVERAGE COST METHOD Definition

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AVERAGE COST METHOD is using a weighted average cost for items in inventory rather than actual cost for each specific item.

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15 MINUTE RULE is a timekeeping method used as a semi-official delay prior to ending or beginning an activity. For example: a. Only waiting for a tardy college instructor for 15 minutes prior to the class being terminated, or, b. Putting a 15 minute hands-off delay before impulsively eating a candy when dieting.

AUTHORIZATION OF STOCK is the provision in a corporate charter giving permission to issue stock.

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