Chapter 9Accounting Storyboard by 06bfea52
Chapter 9 Accounting Test. 9 test review terms in this set (26) total shares of ownership in a corporation. Web accounting chapter 9 test vocab.
Cash discount an organization with the legal rights of a person and which may be owned by many persons. Web accounting chapter 9 test vocab. Nothing will be recognized as revenue, since the flower shop will not provide flowers until june. Four types of business formation An account that reduces a related account on a financial statement. Sets found in the same folder. Web the purchase of assets is recognized under this category. Capital stock a deduction that a vendor allows on the invoice amount to encourage prompt payment. Chapter 1 and 2 test. The matching principle states that expenses must be matched to revenues in the period in which they were incurred.
____ indicates what percentage of net sales represents profit. ____ indicates what percentage of net sales represents profit. 9 test review terms in this set (26) total shares of ownership in a corporation. Web the purchase of assets is recognized under this category. The ____ reports a business's net income or net loss over an entire accounting period. Nothing will be recognized as revenue, since the flower shop will not provide flowers until june. Chapter 1 and 2 test. Eliminates the need for a bad debts allowance. An account that reduces a related account on a financial statement. Web 30 questions show answers. Allowance for doubtful accounts 7.
