Reduction from the Invoice Price for Prompt Payment as Recorded

question 29

Multiple Choice

Reduction from the invoice price for prompt payment as recorded on the books of the buyer

• A)Purchases discount
• B)Cash discount
• C)Trade discount
• D)Credit terms
• E)Cash payments journal
• F)Promissory note
• G)Cash receipts journal
• H)Credit Card Expense
• I)Credit period
• J)Sales discount

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Definitions:

Words

Basic units of language or speech that convey meaning and are used to express thoughts or communicate.

Parasympathetic

The part of the autonomic nervous system responsible for relaxation and conservation of energy.

Sympathetic

Part of the autonomic nervous system that prepares the body for action in challenging or threatening situations.

Parasympathetic

Part of the autonomic nervous system responsible for the body's rest and digest response, counteracting the fight or flight system.