Examlex
Client-server systems can normally be classified as:
Net Method
An accounting method of recording purchases at the net of any trade discounts and rebates.
Purchase Discounts Lost
Occurs when a company fails to take advantage of early payment discounts offered by suppliers, leading to higher purchase costs.
Gross Method
The gross method in accounting is a way of recording purchases at the full invoice price without deduction of any cash discounts.
Accounts Payable
A current liability account on the balance sheet representing amounts owed by a company to suppliers or creditors for goods and services purchased on credit.
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