| A | B |
|---|
| merchandise | Goods that a business purchases to sell |
| merchandising business | a business that purchases and resells goods. |
| retail merchandising business | a merchandising business that sells to those who use or consume the goods. |
| wholesale merchandising business | a business that buys and reslls merchandise primarily to other merchandising businesses. |
| corporation | an organization with the legal rights of a persona which many persons or other corporations may own. |
| capital | the assets or other financial resources available to a business |
| share of stock | a unit of ownership in a corporation |
| stockholder | the owner of one or more shares of stock. |
| perpetual inventory | an inventory determined by keeping a continuous record of increases, decreases, and the balance on hand of each item of merchandise. |
| periodic inventory | a merchandise inventory evaluated at the end of a fiscal period. |
| physical inventory | a periodic inventory conducted by counting, weighing or measuring items of merchandise on hand. |
| capital stock | the total shares of ownership in a corporation. |
| articles of incorporation | a legal document that identifies basic characteristics of a corporation, which is a part of the application submitted to a state to become a corporation. |
| charter | a state approves the formation of a corporation by issuing a charter, the legal right for a business to conduct operations as a corporation. |
| vendor | a business from which merchandise, supplies, or other assets are purchased. |
| subsidiary ledger | a ledger that is sumarized in a single general ledger account. |
| accounts payable ledger | the subsidiary ledger containing vendor accounts |
| controlling account | An account in a general ledger that summarizes all accounts in a subsidiary ledger. |
| Inventory | a list of assets, usually containing the value of individual items. |
| merchandise inventory | The goods a business has on hand for sale to customers |
