Good (accounting)

In accounting, a good is a physical product capable of being

Related Topics:
Physical - Product

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delivered to a purchaser and involves the transfer of ownership from seller to customer.

Related Topics:
Ownership - Seller - Customer

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Dangerous goods must be labeled by specific signs when being shipped by road, rail, air or post.

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It contrasts with a service, in which no physical product is transferred, except as an incidental part of the transaction. In economics however, a service is still considered an economic good.

Related Topics:
Service - Economics - Economic good

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In the United States, transactions involving sales of goods (including live animals and crops, minerals, and timber once severed from the land) are governed by Article 2 of the Uniform Commercial Code, which has been adopted in some form in all 50 states.

Related Topics:
United States - Uniform Commercial Code

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In the US transportation industry, the term freight is used, e.g. freight car vs. goods wagon.

Related Topics:
Freight car - Goods wagon

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