Kriyoto Inc. is a retailer of printers, scanners, and other office equipment. It announced a cash refund for corporate purchases in quantities more than ten
Rick purchased ten color printers for his office from Kriyoto during this sale. To avail the cash refund, he had to mail in a proof of purchase, purpose of purchase, proof of his company's legality, and his cash register receipt. In this case, Rick has received a:
a. premium.
b. trade allowance.
c. push money.
d. rebate.
ANSWER: d
In this case, Rick has received a rebate. A rebate is a cash refund given for the purchase of a product during a specific period. However, the purchaser must mail in a rebate form and usually some proof of purchase to avail the rebate.
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