FREE AND STUDY GAMES ABOUT ACCOUNTING DEF.

PDF Download

FREE AND STUDY GAMES ABOUT ACCOUNTING DEF.

EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -13 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: Wholesale merchandising business

Answer:

Buys products to resell to another business for them to sell

Question 2: Retail merchandising business

Answer:

Sells to those who use or consume the goods

Question 3: Accounts payable ledger

Answer:

The subsidiary ledger containing vendor accounts

Question 4: Corporation

Answer:

Organizations' legal rights to a person or the corporation

Question 5: Merchandise

Answer:

Goods a business purchases to resell

Question 6: Merchandising business

Answer:

Business that buys goods then resells them

Question 7: Charter

Answer:

The legal right for a business to conduct operations as a corporation

Question 8: Share of stock

Answer:

Each unit of ownership in a corporation

Question 9: Stockholder

Answer:

The owner of one or more shares of stock

Question 10: Capital

Answer:

The assets or other financial resources available to a business

Question 11: Subsidiary ledger

Answer:

A ledger that is summarized in a single general ledger account

Question 12: Vendor

Answer:

A business from which merchandise, supplies, or other assets are purchased

Question 13: Articles of incorporation

Answer:

A legal document that identifies basic characteristics of a corporation, is a part of the application submitted to a state to become a corporation.