HomeDefinitionsCompareDebt Open accountThe 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 MatchesAccount Ad Valorem DutyAccount Ad Valorem DutyAn imported merchandise tax expressed as a percentage. Account balanceAccount balanceCredits minus debits at the end of a reporting period. Account executiveAccount executiveThe brokerage firm employee who handles stock orders for clients. See: Broker. Further SuggestionsAccount PartyAccount reconciliation Account statement Accounting earnings Accounting insolvency Accounting liquidity Accounts payable Click to compare definitions of Open account Click to view definitions beginning op |