Discount is the deduction in the price of the goals sold. State true or false
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A cash discount is a deduction allowed by the seller of goods or by the provider of services in order to motivate the customers to pay with in a specified time. This discount should definitely be recorded in the books of accounts as this involves accounting terms.
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Explanation:
Discount is the deduction in the price of the goals sold.
=> The above statement is True.
Discount is a reduction given on the Marked Price (MP) of the article. This is generally given to attract customers to buy goods or to promote sales of the goods. You can find the discount by subtracting its sale price from its marked price. So, Discount = Marked price – Sale price.
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