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