1. highly subjective term, usually an expression of monetary worth applied to a particular asset, group of assets,business entity, or services rendered. It should not be confused with the term cost even though it is frequently measured, equated, and identified by it. Thus the term should be used with an appropriate modifying adjective.

2. amounts at which items are stated in financial records and statements. Value is expenditures or amounts deemed to benefit future periods. See also BOOK VALUE; MARKET VALUE.

3. represented by the amount of goods, services, or money necessary to complete an exchange for a specific commodity. In economic terms, value of goods equals price multiplied by quantity.