Term
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Definition
| goods that a merchandising business purchases to sell |
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Term
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Definition
| a business that purchases and sells goods |
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Term
| Retail Merchandising business |
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Definition
| a merchandising business that sells to those who use or consume the goods |
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Term
| Wholesale merchandising business |
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Definition
| a business that buys and resells merchandise to retail merchandising business |
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Term
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Definition
| an organization with the legal rights of a person and which may be owned by many persons |
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Term
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Definition
| each unit of ownership in a corporation |
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Term
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Definition
| total shares of ownership in a corporation |
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Term
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Definition
| an owner of one or more shares of a corporation |
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Term
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Definition
| a journal used to record only one kind of transaction |
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Term
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Definition
| the price a business pays for goods it purchases to sell |
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Term
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Definition
| the amount added to the cost of merchandise to establish the selling price |
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Term
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Definition
| a business from which merchandise is purchased or supplies or other assets are bought |
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Term
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Definition
| a transaction in which the merchandise purchased is to be paid for later |
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Term
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Definition
| a special journal used to record only purchases of merchandise on account |
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Term
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Definition
| a journal amount column headed with an account title |
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Term
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Definition
| an invoice used as a source document for recording a purchase on account transaction |
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Term
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Definition
| an agreement between the buyer and the seller about payment for merchandise |
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Term
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Definition
| a special journal used to record only cash payments transactions |
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Term
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Definition
| a deduction from the invoice amount, allowed by a vendor to encourage early payment |
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Term
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Definition
| a cash discount on purchases taken by a customer |
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Term
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Definition
| a journal amount column that is not headed with an account title |
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Term
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Definition
| the retail price listed in a catalog or on an internet site |
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Term
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Definition
| a reduction in the list price granted to customers |
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Term
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Definition
| an account the reduces a related account on a financial statement |
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Term
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Definition
| a petty cash on hand amount that is less than a recorded amount |
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Term
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Definition
| a petty cash on hand amount that is more than a recorded amount |
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Term
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Definition
| credit allowed for the purchase price of returned merchandise, resulting in a decrease in the customer's accounts payable |
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Term
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Definition
| credit allowed for part of the purchase price of merchandise that is not returned, resulting in a decrease in the customer's accounts payable |
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Term
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Definition
| a form prepared by the customer showing the price deduction taken by the customer for returns and allowance |
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