Examlex
What is created when partners in a strategic alliance form a new business unit to implement their plans?
Vouchers Payable
An accounting term that represents the obligation of a business to pay for goods or services that have been received, but not yet paid for.
Purchases Discount
A contra-cost account in the general ledger that records discounts offered by vendors of merchandise for prompt payment of purchases by buyers.
Merchandise
Goods brought into a store for resale to customers.
Purchase Discounts
Reductions in price given by a supplier to a buyer for early payment within a specified period.
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