Indicate Whether Each of the Following Statements Is True or False

Short Answer

Indicate whether each of the following statements is true or false.
_____ a)A cash discount is extended to reward the buyer for purchasing large quantities of goods.
_____ b)A purchase discount refers to a cash discount as seen from the seller's viewpoint.
_____ c)A sales discount refers to a cash discount as seen from the buyer's view.
_____ d)In a perpetual inventory system,a sales discount is recorded as a reduction of sales revenue.
_____ e)In a perpetual inventory system,a purchase discount is recorded as a reduction of merchandise inventory.