Accounting chapter 9

A merchandising business that sells to those who use or consume the goods,

• a wholesale merchandising business

• a retail merchandising business

• cash discount

• terms of sale

A business that buys and resells merchandise primarily to other merchandising businesses

• a wholesale merchandising business

• a retail merchandising business

• a service business

• a nail salon

Each unit of ownership in a corporation

• corporation

• articles of incorporation

• share of stock

• requisition

An organization with the legal rights of a person which many persons or other corporations may own.

• Articles of incorporation

• corporation

• trade discount

• retail business

The owner of one or more shares of stock.

• employee

• manager

• Stockholder

A legal document that identifies basic characteristics of a corporation.

• Articles of a corporation

• purchase order

• trade discount

• cash back

An account in a general ledger that summarizes all accounts in a subsidiary ledger.

• Contra account

• special journal

• controlling account

• requisition

The retail price listed in a catalog or on an Internet site.

• terms of sale

• list price

• cash discount

• credit limit

A reduction in the list price granted to a merchandising business.

• list price

• cash discount

• special journal

• Trade discount

An agreement between a buyer and a seller about payment for merchandise.

• terms of sale

• articles of incorporation

• trade discount

• cash discount