Select the One Term That Best Fits Each Definition

Multiple Choice

Select the one term that best fits each definition.
-An inventory determined by keeping a continuous record of increases, decreases, and the balance on hand of each item of merchandise.

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