A One-Time Reduction in List Price Typically Offered at the Time

question 73

Multiple Choice

A one-time reduction in list price typically offered at the time of sale is referred to as a(n) :

• A)allowance.
• B)rebate.
• C)cumulative discount.
• D)noncumulative discount.

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Definitions:

Irreversibility

Piaget’s term for a preoperational child’s failure to understand that an operation can go in two or more directions.

Clay

A natural, earthy material composed of minerals with fine particles, used in making pottery, bricks, and sculptures.

Conservation

In psychology, it's the understanding that quantities remain the same even when they are arranged or shaped differently, a concept developed by Jean Piaget.

Irreversibility

The inability to mentally reverse a sequence of events or logical operations back to the starting point.