Multiple Choice
The account used by the purchaser to record the amount of discount granted by its suppliers for prompt payment is the:
A) discount received account.
B) discount allowed account.
C) discount credit account.
D) financial revenue account.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q26: Under the perpetual inventory system what is
Q27: Which of the following need not appear
Q28: Under GST (Goods and Services Tax) legislation
Q29: Which statement concerning the gross profit ratio
Q30: The specific term used by a retailer
Q32: The main difference between a service and
Q33: With a periodic inventory system if inventory
Q34: Assume that the net price method of
Q35: In the income statement expenses are classified
Q36: The periodic inventory system is a shortcut