When Sherman Bought Gas,he Noticed the Convenience Store Offered Him

question 154

Multiple Choice

When Sherman bought gas,he noticed the convenience store offered him a 2 percent reduction in price if he paid cash rather than if he used his credit card to pay for his purchase.The convenience store was offering him a

• A)trade discount.
• B)cash discount.
• C)promotional allowance.
• D)rebate.
• E)functional discount.

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Definitions:

Book Value

The value of an asset as recorded on the balance sheet, calculated as the cost of the asset minus any depreciation.

Par Value

The nominal or face value of a bond, stock, or coupon as stated by the issuer.

Legal Capital

The minimum amount of capital that a company must maintain as required by law, often to protect creditors.

Assigned

Attributed or designated to a particular task, resource, or responsibility within an organization or process.