accounting - chapter 9 vocab - Accounting Chapter 9 Vocab...

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AccountingChapter 9 VocabMerchandiseGoods that a business purchases to sellMerchandising businessA business that purchases and sells goodsRetail merchandising businessA merchandising business that sells to those who use or consume the goodsWholesale merchandisingbusinessA business that buys and resells merchandise to retail merchandising businessesCorporationAn organization with the legal rights of a person and which many persons may ownShare of stockEach unit of ownership in a corporationCapital stockTotal shares of ownership in a corporationStockholderAn owner of one or more shares of a corporationSpecial journalA journal used to record only one kind of transactionCost of merchandiseThe price a business pays for goods it purchases to sellMarkupThe amount added to the cost of merchandise to establish the selling priceVendorA business from which merchandise is purchased or supplies or other assets are boughtPurchase on account

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