Chapter 9

2. a type of deduction that a vendor allows on an invoice amount to encourage prompt payment.
5. The assets or other financial resources available to a business.
6. A merchandising business that sells to those who use or consumer the goods.
9. The subsidiary ledger containing vendor accounts.
12. A business from which merchandise, supplies, or other assets are purchased.
13. The legal right for a business to conduct operations as a corporation.
14. The retail price listed in a catalog or on an internet site.
15. An account that reduces a related account on a financial statement.

1. A type of ledger that is summarized in a single general ledger account.
3. a method of keeping a continuous record of increases, decreases, and the balance on hand of each item of merchandise.
4. Goods that a business purchases in order to sell.
7. A merchandise inventory evaluated at the end of a fiscal period.
8. A business that buys and resells merchandise primarily to other merchandising businesses.
10. A period of time during which a customer may take a cash discount.
11. A type of account in a general ledger that summarizes all accounts in a subsidiary ledger.