General term with many meanings. (1) Paper or board that is on hand in inventory. (2) Paper or board that has been designated for a particular use and only awaits the printing or converting process. (3) Pulp which has been processed to a state where dilution is the only step necessary for it to be made into paper or board. (4) At any stage in manufacture wet pulp is referred to as stock. (5) Wastepaper.