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Marketing Vocab

Chapter 4 & 5 Voc.

WordDefinition
Till The cash drawer of a cash register.
Drawer The person who presents the check.
Drawee The bank that pays the money from the drawer's account.
Payee The store (or individual) that receives the money.
Debit card Comes in the form of an automatic teller machine (ATM) card that can be used like a credit card.
Opening cash fund At the beginning of the work day, the cashier will start win amount of money in the cash register.
Buying change Managing the flow of cash in your till.
Policies General statements of intent about how to run your school store. For example "No food or drinks allowed."
Procedures The processes or steps used for carrying out the policies.
CHAPTER 5 VOCAB-------------------------------- -----------------------------------------------
Accounts Receivable Money owed to a business by its customers.
Accounts Payable Money owed to a vendor for merchandise, equipment, or other supplies.
Purchase Order A written form authorizing vendors to ship products at a spcific price.
Cash receips Any cash brought into the business is refferred.
Cash disbursements Any cash paid out by the bussiness is referred.
Income Statement Summarizes he business's income and expensives during a specifcated time period.
Operating Expenses The costs incured from operating the business, such as slaries, rent, advertising, and utilites.
Balance Sheet The summary of a business's assets and liabilites and indicates the financial conditon of that business.
Asset Anything of value that the business owns.
Liability The amount of money the business owns.
Sales tally A calculation of the daily sales.
Sales Quota Sales goal.
Auditing The process that ensures the accuracy of a business's finaces.
Created by: FredYugi
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