Question

discount received -direct or indirect income​

Answer 1

Answer:

As the name itself clarifies that when any discount is received against any payment made by the business firm, that is called ‘Cash Discount Received’. When any payment is made by the business firm to any person and the receiver of money gives some incentives for such timely payments then it shall be treated as ‘Cash Discount Received’ Normally, in business firms the term ‘Cash Discount Received’ is used in respect of cash purchases of goods.