EXEMPT Definition

Bookmark and Share

EXEMPT is being freed from or not subject to an obligation, liability, tax, etc.; excused. Examples: exempt gifts or tax-exempt bonus.

Learn new Accounting Terms

BOM see BILL OF MATERIALS.

ACCOUNT is the detailed record of a particular asset, liability, owners equity, revenue or expense.

Suggest a Term

Enter Search Term

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