ch 10
Terms
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- partnership
- a business in which two or more persons combine their assets and skills.
- vendor
- a business from which merchandise is purchased or supplies or other assets are bought.
- merchandise
- goods that a merchandising business purchases to sell.
- partner
- each member of a partnership
- whole sale merchandise
- a business that buys and resells mercahndise to retail merchandiseing businesses.
- terms of sale
- an agreement between a buyer and a seller acbout payment for merchandise.
- markup
- that amount added to the cost of merchandise to establish the selling price.
- retail merchandising business
- a merchandising business that sells to those who use or consume the goods.
- purchase invoice
- an invoice used as a souce document for recording apurchase onj account transaction.
- merchandising business
- a business that purchases and sells goods.