BACKORDER Definition

Bookmark and Share

BACKORDER is a customer order or contractual line item, current or past due, that cannot be shipped due to lack of inventory; dependent upon availability it will be shipped at some future date.

Learn new Accounting Terms

PAYMENT TERMS is the legal or contractual stipulation by a business as to when payment is to be made for goods or services supplied, e.g. cash with order, payment on delivery, or within a particular number of days of the invoice date.

FAIR MARKET VALUE is the price at which a willing seller will sell and a willing buyer will buy, in an arms- length transaction, when neither is under compulsion to sell or buy and both have reasonable knowledge of relevant facts.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.