Which of the Following Statements Are True

question 48

Multiple Choice

Which of the following statements are true?

• A) Trade discounts are not journalized.
• B) Trade discounts are the same as sales discounts.
• C) Trade discounts are related to cash payments.
• D) Trade discounts are the same as purchase discounts.

---

Definitions:

Implicit Memory

Refers to the type of memory that enables individuals to perform tasks without conscious awareness of these previous experiences.

Working Memory

A cognitive construct with a maximum capacity designed for the quick storage of information pending processing.

Short-Term Memory

A cognitive function responsible for temporarily storing and managing information required for complex cognitive tasks such as learning, reasoning, and comprehension.

Explicit Memory

The type of long-term memory involving conscious recall of factual data, previous experiences, and concepts.