A discount given to encourage prompt payment is called: Multiple Choice О a cash discount. all of these answer choices are correct. a sales discount by the seller. a purchase discount by the buyer.
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- types of discounts is given to the buyer if the buyer makes a bulk purchase ?The cash discount (also known as purchase discount) is given to customers for a. Frequent purchases b. Bulk purchase c. Early and prompt payments d. Frequent salesThe objective of is to encourage the buyer to purchase in large quantities and to increase the level of sales. a. Mark-up b. Cash discount c. Trade discount d. Margin
- Which one of the following types of discounts is given to the buyer if the buyer makes a bulk purchase;(True / False) A purchases discount can be referred to by the buyer as discount received.Terminology Match each phrase with its definition. A. Sales discount B. Credit period C. Discount period D. FOB destination E. FOB shipping point F. Gross profit G. Merchandise inventory H. Purchases discount 1. 2. 3. 4. 5. 6. 7. 8. Goods a company owns and expects to see to its customers. Time period that can pass before a customer's full payment is due. Seller's description of a cash discount granted to buyers in return for early payment. Ownership of goods is transferred when the seller delivers goods to the carrier. Purchaser's description of a cash discount received from a supplier of goods. Difference between net sales and the cost of goods sold. Time period in which a cash discount is available. Ownership of goods is transferred when delivered to the buyer's place of business. 1
- Kate Trading made an early payment to its suppliers to take advantage of the discount offered by the supplier. What account is most likely used for the discount that is being acquired by Kate Trading? cash discount trade discount sales discount purchase discountSellers use two methods in practice that simplify the process of recording sales discount. What are these methods of sales discount?If any discount is offered for early payment of invoice will be called as a. Cash discount b. Trade discount c. No discount d. Any discount
- Enter the letter for each term in the blank space beside the definition that it most closely matches. A. Sales discount D. FOB destination G. Merchandise inventory B. Credit period E. FOB shipping point H. Purchases discount C. Discount period F. Gross profit 1. Goods a company owns and expects to sell to its customers. 2. Time period that can pass before a customer’s full payment is due. 3. Seller’s description of a cash discount granted to buyers in return for early payment. 4. Ownership of goods is transferred when the seller delivers goods to the carrier. 5. Purchaser’s description of a cash discount received from a supplier of goods. 6. Difference between net sales and the cost of goods sold. 7. Time period in which a cash discount is available. 8. Ownership of goods is transferred when delivered to the buyer’s place of business.Select the correct choice that completes the sentence below. The cost of an item if the full amount had been paid at the time of sale is called the O A. down payment price O B. installment price O C. total price O D. cash priceWhen offered with single trade discounts or discounts series, would you avail of themright away? why?