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5 Written questions

5 Matching questions

  1. Stockholder
  2. Corporation
  3. Supporting Schedule
  4. Purchase Invoice
  5. Purchases Discount
  1. a business that meets certain legal requirements to be recognized as having a legal existence, as an entity separate and distinct from it owners.
  2. b an invoice used as a source document for recording a purchase on account transaction.
  3. c A cash discount on purchases taken by a customer.
  4. d a report prepared to give details about an item on a principal financial statement.
  5. e An owner of one or more shares of a corporation.

5 Multiple choice questions

  1. A journal amount column that is not headed with an account title.
  2. a financial statement that summarizes the changes in owner's equity during a fiscal period.
  3. An agreement between a buyer and a seller about payment for merchandise.
  4. The report that summarizes the cash and credit card sales of a point-of-sale terminal.
  5. a business from which merchandise is purchased or supplies or other assets are bought.

5 True/False questions

  1. Cash Overa person or business to whom merchandise or services are sold.

          

  2. Cash Receipt JournalA special journal used to record only sales of merchandise on account.

          

  3. Capital Stocktotal amount of a firm's capital, represented by the value of its issued common and preferred stock (ordinary and preference shares).

          

  4. Wholesale Merchandising Businessa merchandising business that sells to those who use or consume the goods.

          

  5. Retail Merchandising Businessa merchandising business that sells to those who use or consume the goods.

          

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