COMMERCIAL INVOICE Definition

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COMMERCIAL INVOICE, generally, is the sellers bill of sale for the goods sold, specifying type of goods, quantity and price of each type and terms of sale. In import/export, it represents a complete record of the transaction between exporter and importer with regard to the goods sold. Also reports the content of the shipment and serves as the basis for all other documents about the shipment.

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ALLOWANCE, within Sales, is a concession granted to customers for unsatisfactory goods or services. Reduces sales because a portion of the sale has not been earned.

SHARE CAPITAL is that portion of a corporations equity obtained from issuing shares in return for cash or other considerations.

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