Acctg I - Ch 10 Word Scramble
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| Question | Answer |
| 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 |
Created by:
lrice@penncrest.org
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