Trade & Cash Discount
Authored by Divyalakshmi Saminathan
Business
9th Grade
Used 10+ times
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7 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not true about trade discount?
Applied over list price
Record the discount in the ledger
Just record the discounted price
Given for bulk purchases
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not true about cash discount?
Applied over amount owing
Recorded as discount allowed or discount received
None of the above
Given for early payment
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Discount allowed is an ______.
income
expense
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Discount allowed is _________.
DR in nature
CR in nature
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Discount allowed is
Discount given to the customer
Discount given to the supplier
6.
FILL IN THE BLANK QUESTION
1 min • 1 pt
The list price of $1000, less trade discount of 5%.
A cash discount of 2% will be received if payment is made within five days.
Calculate the trade discount.
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
The list price of $1000, less trade discount of 5%.
A cash discount of 2% will be received if payment is made within five days.
Calculate the cash discount.
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