Ch 10
Terms
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- wholesale merchadising business
- a business that buys and resells merchandise to retail merchandising businesses
- partnership
- a business which two or persons combine their assets and skills
- cost of merchandise
- the price a business pays for goods it purchases to sell
- terms of sale
- an agreement between a buyer and a seller about payment for merchandise
- purchase invoice
- an invoice used as a source document for recording a purchase on account transaction
- merchandising business
- a business that purchases and sells goods
- merchandise
- goods that a merchandising business purchases to sell
- markup
- the amount added to the cost of merchandise to establish the selling price
- partner
- each member of a partnership
- vendor
- a business from which merchandise is purchased or supplies or other assets are bought
- retail merchandising business
- a business that sells to those who use or consume the goods