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.

Learn new Accounting Terms

ARBITRAGE is the movements of funds to take advantage of differences in exchange or interest rates; such movements quickly eliminate any such differences.

ACCOUNTS PAYABLE (AP) are trade accounts of businesses representing obligations to pay for goods and service received.

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