Goods or Merchandise

Definition

The things which are manufactured for selling purpose or bought for reselling purpose are known as goods or merchandise.

Example

  1. Cloth is goods or merchandise for a cloth dealer.
  2. Cement is goods or merchandise for a cement dealer.
  3. Furniture is goods or merchandise for a furniture vendor.

If these items are manufactured or bought to retain in business or for personal use then these wil not be termed as goods e.g. If Mr. A deals in cars then cars are goods for him. When he purchase Air conditioner for his office then it will not be termed as goods.

Leave a Comment