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Home Accounting Dictionary Letter S Sales Definition
 
 

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Sales Definition:

Goods sold by the business in which it normally deals which were bought or manufactured with the prime intention of resale.

The word "sales" has special meanings in accounting. It is used only for the sale of those goods or stock that are purchased with an intention to resale at a profit. This word must never be given to the disposal of other items, such as vans or buildings that are purchased to be used in the business and not to be sold at a profit.

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