Fichas
Chapter 5 Merchandising Operations
Fichas del conjunto (28)
- 1A business that sells merchandise or goods, to customers.Merchandiser
- 2the merchandise that a business (merchandiser) sells to a customerMerchandise Inventory
- 3A type of merchandiser who buys goods from manufacturers and then sells them to retailersWholesaler
- 4RetailerA type of merchandiser who buys merchandise from a manufacturer or wholesale and then sells those goods to consumersRetailer
- 5the individual or business from whom a company purchases goodsVendor
- 6The cost of merchandise inventory that the business has sold to consumersCost of Goods Sold
- 7Excess of Net Sales Revenue over cost of goods soldGross Profit
- 8Expenses other than Cost of Goods Sold, that are incurred in the entity's major ongoing operations.Operating Expenses
- 9An inventory system that requires businesses to obtain physical count of inventory to determine quantities on handPeriodic Inventory System
- 10An inventory system that keeps a running computerized record of merchandise inventoryPerpetual Inventory
- 11A sellers request for payment from the purchaserInvoice
- 12A discount that businesses offer to a purchaser as an incentive fro early paymentPurchase Discount
- 13The payment terms of purchase or sale as stated on the invoiceCredit Terms
- 14A situation in which sellers allow purchasers to return merchandise that is defective, damagers or otherwise unsuitablePurchase Return
- 15An amount granted to the purchaser as an incentive to keep goods that are not "as ordered"Purchase Allowance
- 16Situation in which the buyer takes ownership to the goods after the goods leave the sellers place of business and the buyer typically pays freghtFOB Shipping Point
- 17Situation in which the buyer takes ownership to the goods at the delivery destination point and seller typically pays freightFOB Destination
- 18Freight InThe transportation cost to ship goods into the purchasers warehouse; therefore, it is freight on purchased goods.Freight In
- 19The transportation cost to ship goods out of the sellers warehouse; it is freight on goods sold to customersFreight Out
- 20Sales DiscountsReduction in the amount of revenue earned on sales for early paymentSales Discounts
- 21Customers return of merchandise or an allowance granted to the customerSales Returns or Allowances
- 22Income statement format that groups all revenues together and the lists and deducts all expenses together without calculating any subtotalsSingle Step Income Statement
- 23Income statement format that contains subtotals to highlight significant relationships. In addition to net income, it reports gross profit and operating incomeMulti Step Income Statement
- 24Measures the results of the entity's major ongoing activitiesOperating Expense
- 25Expenses incurred that are not related to marketing the company's goods and servicesAdministrative Expense
- 26Revenues and expenses, that are outside the normal, day to day operations of a businessOther Income and Expenses
- 27Measures the profitabilitiy of each sales dollar above the cost of goods sold. Gross Profit / Net Sales RevenueGross Profit Percentage
- 28The remained after subtracting the contra accounts from PurchasesNet Purchases
Información
- Descripción
- Finance Fichas sobre Chapter 5 Merchandising Operations, creado por Scott Gottstein el 06/07/2018.
- Creado por
- Scott Gottstein
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