Examlex
Briefly describe the seven coding methods used by companies with examples.
Inventory Accounts
Accounts used to track the cost of inventory that has been purchased but not yet sold to customers.
Manufacturing Company
A business that produces finished goods from raw materials by using various forms of labor, equipment, and processes.
Merchandising Company
A business that purchases finished goods for resale, making a profit on the difference between the buying and selling prices.
Marketable Securities
Financial instruments that can be easily converted into cash at their current market value.
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