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The principle of informed consent assumes that:
Discount Period
The time frame in which a payment can be made at a reduced rate from the total invoiced amount, typically to encourage early payment.
Periodic Inventory System
An inventory accounting system where updates are made on a periodic basis, not continuously.
Discounts Lost
Represents the extra amount paid by a buyer above the early payment discount price, due to missing the discount period.
Partial Payment
A payment that is made towards a debt or invoice that is less than the full amount owed at the time of payment.
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