Accounting - Chapter 9

Front

The owner of one or more shares of stock.

Back

Stockholder

Front

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

Back

Controlling account

Front

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

Back

List price

Front

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

Back

Contra account

Front

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

Back

Cash discount

Front

A form requesting the purchase of merchandise.

Back

Requisition

Front

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

Back

Retail merchandising business

Front

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

Back

Terms of sale

Front

Each unit of ownership in a corporation.

Back

Share of stock

Front

Which of the following is an example of a contra account? Accounts receivable, Accounts payable, Purchases, Purchases discount, Sales

Back

Purchases discount