accounting. 1. The act or a system of establishing or settling financial accounts; esp., the process of recording transactions in the financial records of a business and periodically extracting, sorting, and summarizing the rec-orded transactions to produce a set of financial records. — Also termed financial accounting. 2. A rendition of an account, either voluntarily […]
port. 1. A harbor where ships load and unload cargo. [Cases: Navigable Waters 14. C.J.S. Navigable Waters § 37.] 2. Any place where persons and cargo are allowed to enter a country and where customs officials are stationed. — Also termed (in sense 2) port of entry. foreign port. 1. One exclusively within the jurisdiction
field warehousing. An inventory-financing method by which a merchant pledges its inventory, which is in the possession of a third person (a warehouser). • This is a method of financing an inventory that cannot economically be delivered to the creditor or third party. The borrower segregates part of the inventory and places it under the