Accounting Terms Dictionary

Select a letter below to view all accounting terms that begin with that letter.


Purchases are inventory, things bought to sell to customers.

If a shoe store buys shoes for the store the shoes are purchases because they will be sold to customers. If a show store buys cleaning fluids or office furniture, those are not purchases because they will not be sold to customers. This is confusing because many items are bought with a purchase order. However purchases with an “s” on the end means only those things bought to sell to customers.

There is currently no content classified with this term.

Get instant access to step-by-step instructions on how to apply and sit for the CPA Exam.

Expected or Past Undergrad Graduation Date*

When Do You Plan to Start Studying?