SERVICE CONTRACT Definition

Bookmark and Share

SERVICE CONTRACT is a contract offered by a retailer for maintaining and repairing a product beyond its manufacturers warranty coverage.

Learn new Accounting Terms

BROUGHT FORWARD is the recognition of a value that was determined in the past, e.g. an accumulated balance brought forward at the start of a new accounting period.

SALES is the total amount sold within a stipulated time period, usually 12 months. Sales is usually expressed in monetary terms but can also be in total units of stock or products sold.

Suggest a Term

Enter Search Term

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