Chapter 9 Accounting Test

An organization with the legal rights of a person and which many persons may own.

• Corporation
• Trade Discount
• Terms of Sale
• Stockholder
• Share of Stock

Each unit of ownership in a corporation.

• Share of Stock
• Trade Discount
• Terms of Sale
• Stockholder
• Purchases Return

Total shares of ownership in a corporation

• Capital Stock
• Trade Discount
• Terms of Sale
• Stockholder
• Share of Stock

An owner of one or more shares of a corporation.

• Stockholder
• Trade Discount
• Terms of Sale
• Share of Stock
• Purchases Return

The amount added to the cost of merchandise to establish a selling price.

• Markup
• Trade Discount
• Terms of Sale
• Stockholder
• Share of Stock

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

• Terms of Sale
• Trade Discount
• Stockholder
• Share of Stock
• Purchases Return

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

• Cash Discount
• Trade Discount
• Terms of Sale
• Stockholder
• Share of Stock

A cash discount on purchases taken by a customer.

• Purchases Discount
• Trade Discount
• Terms of Sale
• Stockholder
• Share of Stock

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

• List Price
• Trade Discount
• Terms of Sale
• Stockholder
• Share of Stock

A reduction in the list price granted to customers.

• Trade Discount
• Terms of Sale
• Stockholder
• Share of Stock
• Purchases Return