Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Acc. Chapter 9
| Question | Answer |
|---|---|
| Merchandise | goods that a business purchases to sell |
| merchandising business | a business that purchaes and sells goods |
| retail merchandising business | a merchandising business that sells to those who use or consume the goods |
| wholesale merchandising business | a business that buys and resells merchandise to retail merchandising businesses |
| corporation | an organization with the legal rights of a person and which many persons may own |
| share of stock | each unit of ownership in a corporation |
| capital stock | total shares of ownership in a corporation |
| stock holder | an owner of one or more shares of a corporation |
| special journal | a journal used to record only one kind of transaction |
| 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 on account | a transaction in which the merchandise purchased is to be paid for later |
| purchases journal | a special journal used to record only purchases of merchandise on account |
| special amount column | a journal amount column headed with an account title |
| purchase invoice | an invoice useda s a source document for recording a purchase on account transaction |
| cash payments journal | a special journal used to record only cash payment transactions |
Created by:
Brittany5
Popular Accounting sets