Multiple Choice
Select the one term that best fits each definition.
-An organization with the legal rights of a person which many persons or other corporations may own.
A) articles of incorporation
B) cash discount
C) contra account
D) controlling account
E) corporation
F) credit limit
G) general amount column
H) list price
I) periodic inventory
J) perpetual inventory
K) purchase order
L) retail merchandising business
M) requisition
N) schedule of accounts payable
O) share of stock
P) special journal
Q) stockholder
R) trade discount
S) terms of sale
T) wholesale merchandising business
Correct Answer:

Verified
Correct Answer:
Verified
Q9: The Purchases account is classified as a(n)<br>A)
Q10: Select the one term that best fits
Q11: Select the one term that best fits
Q12: A transaction to record merchandise purchased with
Q13: To replenish a $300.00 petty cash fund,
Q15: A periodic inventory conducted by counting, weighing,
Q16: A corporation can own property, incur liabilities,
Q17: Select the one term that best fits
Q18: Select the one term that best fits
Q19: Select the one term that best fits