Accounting Chapter 9

Goods that a business purchases to sell

• Merchandise

• Corporation

• Capital

• Supplies

A business that purchases and resells goods is called

• Service Business

• Merchandise Business

• Corporation

• Sole Proprietorship

A merchandising business that sells to those who consume the goods

• Retail Merchandising Business

• Wholesale Merchandising Business

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

• Retail Merchandising Business

• Wholesale Merchandising Business

An organization with the legal rights of a person.

• Merchandising Business

• Service Business

• Corporation

• Sole Proprietorship

Each unit of ownership in a corporation is called

• Capital

• Money

• Share of Stock

The owner of one of more shares of stock is called

• Stockholder

• Capital

• Owner's Equity

A business that merchandise, supplies, or other assets are purchased from

• Subsidiary Ledger

• Vendor

• Accounts Payable

• Controlling Account

A ledger that is summarized in a single general ledger account

• Shareholder

• Controlling Account

• General Ledger

• Subsidiary Ledger

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

• Shareholder

• Controlling Account

• Capital

• Subsidiary Ledger