Question

explain basic accounting terms 1) goods​

Answer 1

Basic Accounting Terms

Accounts Payable. Accounts payable refers to the money a business owes to its suppliers, vendors, or creditors for goods or services bought on credit. ...

Accounts Receivable. ...

Accounting Period. ...

Accruals. ...

Accrual Basis Accounting. ...

Assets. ...

Balance Sheet. ...

Capital.

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Answer 2

Answer:

goods are items that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product. ... A good is an "economic good" if it is useful to people but scarce in relation to its demand so that human effort is required to obtain it.