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Chapter10 voca

chapter 10 vocabulary

Partnership a buisness in which two or more people combine their assets and skills
Partner each member of a partnership
Merchandising business a buisness that purchases and sells goods
Retail merchandising business a business that sells to those who use or consume the goods
Merchandise goods that a merchandising buisness purchases to sell
Wholesale merchandising business a business that buys and resells merchandise to retail merchandising business
Cost of merchandise the price a business pays for goods it purchases to sell
Markup the amount added to the cost of merchandise to establish the selling price
Vendor a business from which merchandise is purchased or supplies or other assets are bought
Purchase invoice an invoice used as source document for recording a purchase on account trasnaction
Terms of sale an agreement between a buyer and a seller about payment for merchandise
Created by: patsyherrera