COMMODITY Definition

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COMMODITY is an article of commerce or product that can be used for commerce. In a narrower sense, commodity is product traded on an authorized commodity exchange. Some types of commodities: agricultural products, metals, petroleum, foreign currencies, financial instruments and indices, etc.

Learn new Accounting Terms

SFAC is Statements of Financial Accounting Concepts.

BCL is an acronym for, among others, Bank Comfort Letter or Bachelor of Canon/Civil Law.

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