Full Definition of BLUEPRINT. 1. : a photographic print in white on a bright blue ground or blue on a white ground used especially for copying maps, mechanical drawings, and architects' plans. 2.â blueprint transitive verb.See blueprint defined for English-language learners. a photographic print in white on a bright blue ground or blue on a white ground used especially for copying maps, mechanical drawings, and architects' plans. 2. â blueprint transitive verb. See blueprint defined for English-language learners.
Square Position DEFINITION of 'Square Position' A term used in foreign-exchange trading. The term square position denotes that the positions of the currency dealer are offsetting â the buy positions of the dealer are equal to the sell positions. Positive: 37 %. Bank statements.
Periodic means that the Inventory account is not updated during the accounting period. Instead, the cost of merchandise purchased from suppliers is debited to an account called Purchases. At the end of the accounting year the Inventory account is adjusted to equal the cost of the merchandise that is unsold. The other costs of goods will be reported on the income statement as the cost of goods sold. LIFO is an acronym for Last In, First Out. Under the LIFO cost flow assumption, the last (or recent) costs are the first ones to leave inventory and become the cost of goods sold on the income statement. The first (or oldest) costs will be reported as inventory on the balance sheet.