Another Term for Personal Property Is

question 7

Multiple Choice

Another term for personal property is:

• A) fixtures.
• B) chattel.
• C) patent.
• D) realty.

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Definitions:

Voucher Systems

A control and documentation system used in accounting to process and monitor transactions.

Net Method

An accounting method where discounts for early payment are assumed to be taken and sales or purchases are recorded at their net of discount values.

Purchases Discount

Purchases discount is a reduction in the price paid for goods or services, often granted to a buyer when payment is made within a specified period.

Financial Statement

Formal records that outline the financial activities and condition of a business, individual, or other entity.