Multiple Choice
A trade discount is:
A) A term used by a purchaser to describe a cash discount given to customers for prompt payment.
B) A reduction in selling price below the list price given by a manufacturer or wholesaler.
C) A term used by a seller to describe a cash discount granted to customers for prompt payment.
D) Also called a Discount Lost.
E) Also called a rebate.
Correct Answer:

Verified
Correct Answer:
Verified
Q141: A wholesaler is an intermediary that buys
Q182: A company's current assets are $23,420,its quick
Q231: A debit to Sales Returns and Allowances
Q232: On June 3, Zhang Co., which uses
Q233: Zenith Company Inc.'s Merchandise Inventory account at
Q236: The current liability account credited when recording
Q238: Vincent Company, Inc. purchased merchandise from Liu
Q239: Borden Corporation had sales this year of
Q240: Kerry Corporation has an unadjusted Accounts Receivable
Q241: The acid-test ratio is also called the