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