5 Written Questions
5 Matching Questions
- Purchases Allowance
- Plant Assets
- Share of Stock
- Cash Discount
- Sales Discount
- a a cash discount on sales
- b incentive offered by a seller to a buyer for settling the invoice immediately on delivery or in a period substantially shorter than the conventional period in that industry or market.
- c Assets that will be used for a number of years in the operation of a business.
- d credit allowed for part of the purchase price of merchandise that is not returned, resulting in a decrease in the customer's accounts payable.
- e each unit of ownership in a corporation.
5 Multiple Choice Questions
- a reduction in the list price granted to customers.
- The report that summarizes the cash and credit card sales of a point-of-sale terminal.
- An owner of one or more shares of a corporation.
- a business from which merchandise is purchased or supplies or other assets are bought.
- A cash discount on purchases taken by a customer.
5 True/False Questions
Wholesale Merchandising Business → a business that buys and resells merchandise to retail merchandising businesses.
Markup → the amount added to the cost of merchandise to establish the selling price.
Merchandise Inventory → goods that a merchandising business purchases to sell.
Retail Merchandising Business → a business that buys and resells merchandise to retail merchandising businesses.
Merchandise → goods that a merchandising business purchases to sell.