definition of fungible
able to be substituted by something else of the same sort. For example, if you borrow some sugar from a neighbour, you can give back the same amount of sugar, but it will not be the exact sugar that you borrowed in the first place.
In deciding on its ... method of accounting, a business first determines whether the products it sells are fungible or unique.
Submitted by: Joe from Canada on 16/09/2011 13:31:00