Accounting Chapter 9 H6

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

• corporation
• retail merchandising business
• sole proprietorship
• wholesale merchandising business

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

• corporation
• retail merchandising business
• sole proprietorship
• wholesale merchandising business

Each unit of ownership in a corporation.

• articles of incorporation
• share of stock
• stockholder
• corporation

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

• corporation
• sole proprietorship
• co-op
• partnership

The owner of one or more shares of stock.

• sole proprietor
• partner
• shareholder
• stockholder

A legal document that identifies basic characteristics of a corporation.

• charter
• contract
• agreement
• articles of incorporation

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

• contra account
• controlling account
• subsidiary account
• ledger account

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

• actual price
• clearance price
• list price
• sale price

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

• terms of sale
• sale discount
• list price
• trade discount

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

• list price
• credit limit
• terms of sale
• sales price