Listed Below Are Several Accounting Terms Introduced in This Section

question 29

Essay

Listed below are several accounting terms introduced in this section. Each of the following statements may (or may not)describe one of these accounting terms.In the space provided,indicate the term described,or enter "none" if the statement does not correctly describe any of the terms.
_________(A.)An unincorporated business owned by one person.
_________(B.)An example of an organized securities market.
_________(C.)The right of each partner to negotiate binding contracts.
_________(D.)The total earnings of a corporation less dividends paid out.
_________(E.)Investments by the owners of a corporation.
_________(F.)A partnership where one or more partners are not personally liable for the debts of the partnership.
_________(G.)An organization that serves the professional needs of a CPA.
_________(H.)A business that is responsible for its own debts and which pays income taxes on its earnings.
_________(I.)An unincorporated business owned by two or more people.
_________(J.)A corporation whose shares are not publicly traded.

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Definitions:

Mark-up

The amount added to the cost price of goods to cover overhead and profit; the difference between the selling price and the cost price.

Sale Price

The final amount at which an item or service is sold after any discounts or deductions.

Operating Profit

Earnings before interest and taxes (EBIT), reflecting the profit a company makes from its operations, before financial and other non-operational costs.

Reduced Price

A lower cost for goods or services, typically offered during sales, discounts, or promotions.