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Accounting def.

Accounting definitions

TermDefinition
Merchandise Goods a business purchases to resell
Merchandising business Business that buys goods then resells them
Retail merchandising business Sells to those who use or consume the goods
Wholesale merchandising business Buys products to resell to another business for them to sell
Corporation Organizations' legal rights to a person or the corporation
Capital The assets or other financial resources available to a business
Share of stock Each unit of ownership in a corporation
Stockholder The owner of one or more shares of stock
Articles of incorporation A legal document that identifies basic characteristics of a corporation, is a part of the application submitted to a state to become a corporation.
Charter The legal right for a business to conduct operations as a corporation
Business entity
Going concern
Vendor A business from which merchandise, supplies, or other assets are purchased
Subsidiary ledger A ledger that is summarized in a single general ledger account
Accounts payable ledger The subsidiary ledger containing vendor accounts
Created by: 2017300de
 

 



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