A Discount Offered by a Supplier as an Inducement for Prompt

question 131

Short Answer

A discount offered by a supplier as an inducement for prompt payment of an invoice is called a(n):

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Definitions:

Budget Deficits

A situation in which a government's expenditures exceed its revenues, resulting in the need to borrow money to cover the difference.

Interest Rates

The percentage charged on borrowed money or paid on savings accounts, essentially the cost of borrowing or the reward for saving.

Say's Law

A principle that supply creates its own demand in the market.

Recession

A brief era of economic contraction marked by diminished trading and industrial output, commonly indicated by a reduction in GDP across two successive quarters.