The Account Used to Record the Reduction Given to Customers

question 14

Multiple Choice

The account used to record the reduction given to customers for prompt payments.

• A) Purchases Discount
• B) Purchases Returns & Allowances
• C) Sales Discounts
• D) Sales Returns and Allowances

---

Definitions:

West Indies

A region in the Caribbean comprising numerous islands, known for its distinct cultures, history of colonialism, and significant role in the Atlantic slave trade.

Agricultural Corporations

Large companies involved in the production, marketing, and distribution of agricultural goods such as crops and livestock.

Backcountry Farmland

Rural areas typically found in the hinterlands of a country, known for agricultural production often characterized by less fertile soil and more challenging farming conditions compared to prime agricultural lands.

Crop Failure

An event where agricultural crops grown do not produce a sufficient yield, often due to weather conditions, pests, disease, or lack of resources.