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Acctg I - Ch 10

Maplewood Rice Acctg Vocab Ch 10

QuestionAnswer
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