definition term 1. a list of assets, usually containing the value of individual items. (p. 249) 2. the goods a business has on hand for sale to customers. (p. 249) 3. an inventory determined by keeping a continuous record of increases, decreases, and the balance on hand of each item of merchandise. (p. 249) 4. a merchandise inventory evaluated at the end of a fiscal period. (p. 249) 5. when a periodic inventory is conducted by counting, weighing, or measuring items of merchandise on hand (p. 249) 6. the amount a business pays for goods it purchases to sell. (p. 250) 7 a form requesting the purchase of merchandise (p. 251) 8. a form requesting that a vendor sell merchandise to a business. (p. 251) 9. a journal used to record only one kind of transaction (p. 251) 10. a transaction in which the items purchased are to be paid for later (p. 252) 11 a special journal used to record only purchases of merchandise on account (p. 252) 12. a journal amount column headed with an account title (p 252) 13 an invoice used as a source document for recording a purchase on account transaction (p. 252) cost of merchandise inventory merchandise inventory periodic inventory perpetual inventory physical inventory purchase invoice purchase on account purchase order purchases journal requisition special amount column special journal

Question

Accepted Answer

### 1.
# Brief Explanations:
The definition is about a list of assets with individual item values. "Inventory" can refer to a list of assets (like a stock list with values), so it matches.
# Answer:
inventory

### 2.
# Brief Explanations:
The goods a business has for sale to customers is the definition of "merchandise inventory" (or inventory, but here "merchandise inventory" is more specific to goods for sale).
# Answer:
merchandise inventory

### 3.
# Brief Explanations:
An inventory with continuous record of increases, decreases, and balance is "perpetual inventory" as it's the method of continuous tracking.
# Answer:
perpetual inventory

### 4.
# Brief Explanations:
Inventory evaluated at the end of a fiscal period is "periodic inventory" since periodic inventory is done at specific periods (like end of fiscal period).
# Answer:
periodic inventory

### 5.
# Brief Explanations:
Conducting inventory by counting, weighing, etc., is "physical inventory" as it's the physical counting/measuring of goods on hand.
# Answer:
physical inventory

### 6.
# Brief Explanations:
The amount a business pays for goods to sell is "cost of merchandise" (cost of the goods purchased for resale).
# Answer:
cost of merchandise

### 7.
# Brief Explanations:
A form requesting purchase of merchandise is "requisition" (a requisition form is used to request purchases).
# Answer:
requisition

### 8.
# Brief Explanations:
A form requesting a vendor to sell merchandise is "purchase order" (a purchase order is sent to vendors to request goods).
# Answer:
purchase order

### 9.
# Brief Explanations:
A journal for one kind of transaction is "special journal" (special journals record specific types of transactions).
# Answer:
special journal

### 10.
# Brief Explanations:
Purchasing to pay later is "purchase on account" (buying on credit, paying later).
# Answer:
purchase on account

### 11.
# Brief Explanations:
Special journal for purchases on account is "purchases journal" (purchases journal records merchandise purchases on account).
# Answer:
purchases journal

### 12.
# Brief Explanations:
A journal column with an account title is "special amount column" (special amount columns are headed with account titles).
# Answer:
special amount column

### 13.
# Brief Explanations:
Invoice for purchase on account transaction is "purchase invoice" (purchase invoice is the source document for purchase on account).
# Answer:
purchase invoice

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