Accounting - Chapter 11 Quizizz

Credit allowed for the purchase price of returned merchandise, resulting in a decrease in the customer’s account payable

• purchase return

• credit memo

• purchase order

Credit allowed to a customer for the sales price of returned merchandise, resulting in a decrease in the accounts receivable

• sales return

• sales order

• sales memo

A form prepared by the vendor showing the amount deducted for returns and allowances.

• credit memo

• purchase order

• purchase memo

A group of persons elected by the stockholders to govern a corporation.

• board of directors

• sole proprietorship

• partnership

An amount earned by a corporation and not yet distributed to stockholders.

• retained earnings

• preferred stock

• common stock

Credit allowed for part of the purchase price of merchandise that is not returned, resulting in a decrease in the custom

• credit allowances

• salary allowance

• credit advancement

Earnings distributed to stockholders.

• dividends

• dividers

• reverse split

Credit allowed to a customer for part of the sales price of merchandise that is not returned, resulting in a decrease in

• sales allowance

• no other option

Action by a board of directors to distribute corporate earnings to stockholders.

• Declaring a dividend

• No other choice

A journal with two amount columns in which all kinds of entries can be recorded.

• general journal

• Quickbooks