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accounting netes 1 accounting notes 2 accounting notes 3
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Merchandising Industry A company that buys and sells products. Business of retail merchandising A company that sells merchandise to people who use and consume the products. Retailing of Wholesale Goods A company that acquires merchandise and resells it to retailers. Corporation An organization that is owned by many people and has the rights of a person. Stock Option A single ownership stake in a company. Capital Assets Total ownership stake in a company. Stockholder A shareholder in a company who owns one or more shares. Unique Journal A journal used to record only one kind of transaction. Cost of Products The cost a company incurs when purchasing products to sell. Markup The amount that is added to the cost of a product in order to determine its selling price. Vendor A company that acquires or provides goods or other assets for use in the business from
another company. Account purchases A kind of transaction in which the goods bought are paid for later. Buy the Journal A special journal for recording only account purchases of merchandise. Journal with a Special Amount An account title in the heading of a journal amount column.