| A | B |
|---|
| corporation | an organization with the legal rights of a person and which may be owned by many persons |
| share of stock | each unit of ownership in a corporation |
| capital stock | total shares of ownership in a corporation |
| special journal | a journal used to record only one kind of transaction |
| purchases journal | a special journal used to record only purchase on account transactions |
| cash payments journal | a special journal used to record only cash payment transactions |
| list price | a business' printed or catalog price |
| trade discount | a reduction in the list price granted to customers |
| cash discount | a deduction that a vendor allow on the invoice amount to encourage prompt payment |
