Relier Pairs Accounting Ch 9 Terms 4Version en ligne Match the term with its definition. par Kerri Stegman 1 The period of time during which a customer may take a cash discount 2 When a company that has purchased merchandise on account takes a cash discount 3 Is applied when revenue from business activities and expenses associated with earning that revenue are recorded in the same accounting period 4 A listing of vendor accounts, account balances, and the total amount due to all vendors 5 Is applied when a business's financial information is recorded and reported separately from the owner’s personal financial information 6 Is applied when the actual amount paid for merchandise or other items bought is recorded 7 Is applied when financial statements are prepared with the expectation that a business will remain in operation indefinitely 8 The maximum outstanding balance allowed to a customer by a vendor 9 Is applied when source document is prepared for each transaction 10 An account that reduces a related account on a financial statement business entity purchases discount discount period credit limit contra account schedule of accounts payable historical cost going concern objective evidence matching expenses with revenue
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