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