Explain the Term Secondary Market

question 48

Essay

Explain the term secondary market.

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Definitions:

Invoice Cost

Invoice cost refers to the amount shown on the invoice from a supplier, including the cost of the goods purchased and any additional fees or shipping costs.

Installation

The process of setting up equipment, machinery, or software to make it ready for use.

Machinery Account

A ledger account that tracks the acquisition cost, depreciation, and disposal of machinery, reflecting its financial impact on a business.

Freight Costs

The charges incurred for transporting goods via air, land, or sea.