Supplies
Supplies is the type of assets acquired by an organization that has a much shorter life than equipment. Supplies can also refer to a financial account for supplies.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Supplies. The type of assets acquired by an organization that has a much shorter life than equipment.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
