Acc. Chapter 9 Word Scramble
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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 |
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Brittany5
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