Merchants frequently offer a discount off the base price to customers who pay immediately, or within a specified time period. What is this called?
a. a cash discount
b. a functional discount
c. a promotional allowance
d. a base discount
Ans: a. a cash discount
Business
You might also like to view...
The Robinson-Patman Act deals with:
A. Tying contracts B. Discriminatory prices or services C. Reciprocal dealing arrangements D. Unfair or deceptive packaging E. Price-fixing among competing firms
Business
A ________ is a document that is issued by a bank on behalf of a buyer who purchases goods on credit from a seller that guarantees that if the buyer does not pay for the goods, then the bank will pay the seller
A) remittance advice B) certified check C) cashier's check D) letter of credit
Business