MERCHANDISE Definition

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MERCHANDISE is commodities offered for sale or to engage in the trade of commodities that are for sale.

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PARI PASSU is to do or apply something at an equal pace or rate. In finance, it is used in reference to two classes of securities or obligations that have equal entitlement to payment.

ACCOUNTING RECORDS are the records of initial accounting entries and supporting records, such as checks and records of electronic fund transfers; invoices; contracts; the general and subsidiary ledgers; journal entries and other adjustments to the financial statements that are not reflected in journal entries; and records, such as work sheets and spreadsheets, supporting cost allocations, computations, reconciliations, and disclosures.

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