Open account

The financial definition for Open account:

Arrangement whereby sales are made with no formal debt contract. The buyer signs a receipt, and the seller records the sale in the sales ledger.

Similar Matches

Account Ad Valorem Duty

Account Ad Valorem Duty
An imported merchandise tax expressed as a percentage.

Account balance

Account balance
Credits minus debits at the end of a reporting period.

Account executive

Account executive
The brokerage firm employee who handles stock orders for clients. See: Broker.

Further Suggestions

Account Party
Account reconciliation
Account statement
Accounting earnings
Accounting insolvency
Accounting liquidity
Accounts payable

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Open account
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