MAKER Definition

Bookmark and Share

MAKER is a. the producer of a product, or, b. the person who signs a check or promissory note, which makes him/her responsible for payment.

Learn new Accounting Terms

ACCOUNT AGING usually refers to the methods of tracking past due accounts in accounts receivable based on the dates the charges were incurred. Account aging can also be used in accounts payable, to a lesser degree, to monitor payment history to suppliers. See also AGING OF ACCOUNTS.

ROYALTY is the share of the product, or of the proceeds realized from the product, reserved by an owner for permitting another entity to exploit and use that entity's property, i.e. it is the rental paid to the original owner of property based upon a percentage of sales, profit or production. Royalty can involve literary works, inventions, and other intellectual property, as well as mining leases and conveyances.

Suggest a Term

Enter Search Term

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