What is Stock?
The word stock or inventory can be used to mean the total of raw materials, work in progress (WIP), and finished goods that a business holds for the purpose of resale. The important point to remember here is that the goods are intended for resale.
For further information on Stock see the Wikipedia definition.
Learn a new bookkeeping term
Random bookkeeping terms for you to discover.
Link to this page
Click in the box and paste the link to your site.
About the Author
Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years in all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own. He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a BSc from Loughborough University.