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