Examlex
Please define the following key terms. Show Who? What? Where? When? Why Important?
-social contract
Sales Discount
A reduction in the price of goods or services offered to customers, usually to accelerate sales or reward customer loyalty.
Credit Terms
The conditions under which credit is extended by a lender to a borrower, including repayment schedule, interest rate, and the amount of loan.
Net Realizable Value
The estimated selling price of goods, minus the cost of their sale or completion and any necessary disposal expenses.
Allowance for Doubtful Accounts
A concession for estimated bad debts that will arise from accounts receivable that may not be collectible.
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