Talk About: -House of Fugger

question 76

Essay

Talk about:
-House of Fugger

---

Definitions:

Freight In Account

An accounting term used to describe the costs associated with transporting goods into a business, typically included as part of inventory costs.

Merchandise Purchased

Represents the total cost of goods bought for resale during a specific accounting period.

Credit Balance

A situation where the total credits in an account exceed the total debits, commonly seen in liability, revenue, and equity accounts.

Freight Out

The cost associated with transporting goods from a company to its customers, considered a selling expense.