Accounting - Chapter 9

Accounting - Chapter 9

Assessment

Flashcard

Business

10th - 12th Grade

Hard

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15 questions

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1.

FLASHCARD QUESTION

Front

The owner of one or more shares of stock.

Back

Stockholder

2.

FLASHCARD QUESTION

Front

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

Back

Controlling account

3.

FLASHCARD QUESTION

Front

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

Back

List price

4.

FLASHCARD QUESTION

Front

An account that reduces a related account on a financial statement.

Back

Contra account

5.

FLASHCARD QUESTION

Front

A deduction that a vendor allows on an invoice amount to encourage prompt payment.

Back

Cash discount

6.

FLASHCARD QUESTION

Front

A form requesting the purchase of merchandise.

Back

Requisition

7.

FLASHCARD QUESTION

Front

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

Back

Retail merchandising business

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