Good (accounting)

In accounting, a good is a physical product capable of being delivered to a purchaser and involves the transfer of ownership from seller to customer.

Dangerous goods must be labeled by specific signs when being shipped by road, rail, air or post.

It contrasts with a service, in which no physical product is transferred, except as an incidental part of the transaction. In economics however, a service is still considered an economic good.

In the United States, transactions involving sales of goods are governed by Article 2 of the Uniform Commercial Code, which has been adopted in some form in all 50 states.

In the US transportation industry, the term freight is used, e.g. freight car vs. goods wagon.

See also


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