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Encyclopedia > Good (accounting)
Good (accounting) - Wikipedia

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Good (accounting)

From Wikipedia

In accounting, a good is a physical product capable of being delivered to a purchaser and involves the transfer of ownership from seller to customer. Antonym of psychical. ... Sales, or the activity of selling, forms an integral part of commercial activity. ... See also Customer Care A customer is someone who purchases or rents something from an individual or organisation. ...

Dangerous goods must be labeled by specific signs when being shipped by road, rail, air or post. Dangerous goods are substances which pose risk to health, safety, property or the environment during operation and/or transportation. ...

It contrasts with a service, in which no physical product is transferred, except as an incidental part of the transaction. In economics however, a service is still considered an economic good. In economics and marketing, a service is the non-material equivalent of a good. ... Economics (deriving from the Greek words οίκω [okos], house, and νέμω [nemo], rules hence household management) is the social science that studies the allocation of scarce resources to satisfy unlimited wants. ... A good in economics is anything that increases utility. ...

In the United States, transactions involving sales of goods are governed by Article 2 of the Uniform Commercial Code, which has been adopted in some form in all 50 states. The Uniform Commercial Code is one of the Uniform Acts that attempts to harmonise the law of the fifty U.S. states in the United States of America. ...

In the US transportation industry, the term freight is used, e.g. freight car vs. goods wagon. A railroad car (or, more briefly, car), also known as an item of rolling stock in British parlance, is a vehicle on a railroad or railway that is not a locomotive - one that provides another purpose than purely haulage, although some types of car are powered. ... A wagon (in old British English waggon) is a wheeled vehicle, ordinarily with four wheels, usually pulled by an animal such as a horse, mule or ox, which was used for transport of heavy goods in the past. ...

See also

  Results from FactBites:
Good (economics and accounting) - Wikipedia, the free encyclopedia (484 words)
A good is an object whose consumption increases the utility of the consumer.
Goods are usually modeled as having decreasing marginal utility.
In economics a bad is the opposite of a good.
  More results at FactBites »



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