Meaning OPEN ACCOUNT: Arrangement whereby sales are made with no formal debt contract. The buyer signs a receipt, and the seller records the sale in the sales ledger
More terms such as Open account in Dictionary O.
- Definition Official Reserves:
- Examples Holdings of gold and foreign currencies by official monetary institutions open account definition.
- Definition Open-End Mortgage:
- Examples Mortgage against which additional debts may be issued. Related: Closed-end mortgage open account explain.
- Definition Open (Good-Till-Cancelled) Order (GTC Order):
- Examples Order to buy or sell a security that stays active until it is completed or the investor cancels it open account what is.
- Definition Order Room:
- Examples The brokerage firm department receives and processes all orders to buy and sell securities open account meaning.
- Definition Out:
- Examples Used in the context of general equities. (1) No longer obligated to an order, as it has already been cancelled: (2) advertised on Autex open account abbreviation.
