Proforma Invoice vs Commercial Invoice Most people are aware of the words invoice and bill as they themselves pay so many invoices and bills every month from their mobile service provider to utility service providers. However, in international trade, there are two terms Proforma invoice and Commercial invoice that are similar in nature and thus, […]
Difference Between Fair Trade and Free Trade
The key difference between fair trade and free trade is that free trade does not restrict imports and exports, and remove all boundaries for all parties, whereas fair trade places restrictions on farmers and other manufacturers. Both free trade and fair trade are trading models designed to increase wealth globally. The main objective of free […]
Difference Between Postal Order and Money Order and Cheque
Postal Order vs Money Order vs Cheque What do you do to send money to another person if you do not have an account in your name with the cheque book facility? Use a money order or a postal order, you would say. It is true, but this doesn’t point out the differences between the three financial […]
Difference Between Goods and Products
Goods vs Products Which is a correct usage, electronic goods or electronic products? In businesses, it is common to talk about both goods and services as products of a company. A good is defined as something tangible, whereas a service is always intangible such as a lawyer’s advice or maintenance of your computer by a […]
Difference Between Value and Worth
Value vs Worth Value and Worth are two words that are often confused when it comes to their usage and meanings. The word ‘value’ is used in the sense of ‘importance’. On the other hand, the word ‘worth’ is used in the sense of ‘the cost of production’ of a particular thing or the ‘greatness’ […]
Difference Between Perpetual and Periodic
Perpetual vs Periodic | Perpetual vs Periodic Inventory System Perpetual and Periodic are two inventory methods adopted by companies, and it is indeed true that they show some differences between them in their concepts. Accounting gets updated in the application of periodic inventory system. This is one of the primary advantages of the period inventory […]
Difference Between Unitarism and Pluralism
The key difference between unitarism and pluralism is that the unitarism is a perspective that emphasizes the shared interests of all members of an organization whereas the pluralism is a perspective where an organization is perceived as being made up of divergent sub-groups having their own legitimate interests. Unitarism and Pluralism are two terms or […]
Difference Between Fiscal and Monetary Policy
Fiscal vs Monetary Policy Every other day we hear some news items about changes in fiscal policies of the government. We also get to see economists debating various monetary policies of the government. Though we know that both fiscal and monetary pertain to economics, we cannot make out differences between fiscal and monetary policies. There […]
Difference Between Supply and Demand
Supply vs Demand It doesn’t matter if you never have been a student of economics as the concept of supply and demand is still so important to you in real life. Demand and supply are two vital concepts that decide the market price of a commodity. If demand is expressed in quantity that is desired […]
Difference Between Capital and Asset
Capital vs Asset Words like capital and asset are very frequently encountered by accountants and those involved in preparing financial statements of businesses. These are related concepts because of which sometimes people get confused whether it is capital or an asset that is the correct term to be utilized in the financial statement. There is […]
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