Acct 2 - Chapter 9 review

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

• retail merchandising business

• general business

• wholesale merchandising business

A business that buys a sells merchandise primarily to other merchandising businesses

• retail merchandising business

• general business

• wholesale merchandising business

Each unit of ownership in a corporation is a(n)

• Capital

• Share of Stock

• Stockholder

• Articles of Incorporation

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

• Stockholder

• Retail merchandising business

• Wholesale merchandising business

• Corporation

The owner of one or more shares of stock

• Articles of Incorporation

• Stockholder

• Share of Stock

• Corporation

A legal document that identifies basic characteristics of a corporation

• Charter

• Business Plan

• Stock

• Articles of Incorporation

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

• Subledger

• General Journal

• Controlling Account

• Contra Account

The retail price in a catalog or on an internet site

• Cash discount

• Trade discount

• List price

• Net price

A reduction in the list price granted to a merchandising business

• Trade discount

• Net price

• Cash discount

• List price

An agreement between a buyer and seller about payment for merchandise

• Purchase Order

• Terms of Sale

• Requisition

• Invoice