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