Acctg I - Ch 10
| Description: | Maplewood Rice Acctg Vocab Ch 10 |
| Category: | Accounting |
| Created by: | lrice@penncrest.org on 2009-01-22 |
| Question | Answer |
| A business in which two or more persons combine their assets and skills | partnership |
| Each member of a partnership | partner |
| A business that purchases and sells goods | merchandising business |
| A merchandising business that sells to those who consume or use goods | retail merchandising business |
| Goods that a merchandising business purchases to sell | merchandise |
| A business that buys and resells merchandise to retail merchandising buinesses | wholesale merchandising business |
| The price a business pays for goods it purchases to sell | cost of merchandise |
| The amount added to the cost of merchandise to establish the selling price | markup |
| A business from which merchandise is purchased or supplies or other assets are bought | vendor |
| A invoice used as a source document for recording a purchase on account | purchase invoice |
| An agreement between a buyer and a seller about payment for merchandise | terms of sale |
 |
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
Favorite Labeled Images
Biology Lab Midterm
Spanish 3
HHS Shrek
BIOL3326 Forms
Buen Viaje lv.2 ch 8
mr. charles11
MedTemCP5 Word+Pics
Biology Lab Midterm
Spanish 3
HHS Shrek
BIOL3326 Forms
Buen Viaje lv.2 ch 8
mr. charles11
MedTemCP5 Word+Pics
