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Select the One Term That Best Fits Each Definition

Question 25

Multiple Choice

Select the one term that best fits each definition.
-A reduction in the list price granted to a merchandising business.


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:

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