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A trade discount is: A term used by a purchaser to describe a cash discount given to customers for prompt payment A reduction in price below the list price A term used by a seller to describe a cash discount granted to customers for prompt payment A reduction in price for prompt payment Also called a rebate
A trade discount is:
-
- A term used by a purchaser to describe a cash discount given to customers for prompt payment
- A reduction in price below the list price
- A term used by a seller to describe a cash discount granted to customers for prompt payment
- A reduction in price for prompt payment
- Also called a rebate
Expert Solution
Answer: b . A reduction in price below the list price
While we are buying the goods from the seller and seller ask for the lesser price as compared to the original price list, it would be considered as the trade discount. The trade discount is given to attract the buyer and in the case when the buyer is having large quantities.
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