GMP Definition

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GMP is either Good Manufacturing Practice(s) or Gross Maximum Price.

Learn new Accounting Terms

STOCK is a. a certificate documenting the shareholders ownership in a corporation; or, b. the merchandise that an entity has on hand or in inventory.

CONSIGNMENT STOCK is vendor supplied stock that is only paid for when it is used. Consignment stock should change nothing except cash flow. Holding any more stock than is necessary is always inefficient whether it is consignment stock or not.

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