OBLIGATION Definition

OBLIGATION, in business, is a legal duty to pay or do something.

Learn new Accounting Terms

SUNDRY ACCOUNT is an account where miscellaneous items are recorded, e.g. infrequent transactions involving customers or suppliers that are not tracked in the normal course of business.

COGS (COST OF GOODS) RATIO = COGS / Total Sales.

Suggest a Term

Enter Search Term

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

Purchase and download Glossary
Only $9.95