describe the following trade discount,cash discount,voucher, drawing
Answers
Trade discount is given on the catalogue price of the goods while the cash discount is given on the invoice price. Trade discount is granted with the aim of increasing the sales in bulk quantity, whereas Cash discount is granted to facilitate a quick payment. A trade discount is shown as a deduction in the invoice.
ANSWER
TRADE DISCOUNT
A trade discount is the reduction in price a manufacturer or wholesaler gives a wholesaler or retail when they buy a product or group of products. In other words, a trade discount is a certain percentage a manufacturer is willing to reduce its list price for wholesalers or retailers.
CASH DISCOUNT
A cash discount is a deduction allowed by some sellers of goods or by some providers of services in order to motivate customers to pay within a specified time. The cash discount is also referred to as an early payment discount.
VOUCHER
a small printed piece of paper that entitles the holder to a discount, or that may be exchanged for goods or services.
DRAWING
a picture or diagram made with a pencil, pen, or crayon rather than paint.
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