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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

Explain the five types of discounts for business products.

Summary Introduction

To determine: The five types of discounts for business products.

Introduction: A product is goods that is offered available to be purchased. An product can be an product or service. It can be substantial or in virtual or digital frame. Each product is made at a cost and each is sold at a cost.

Explanation

The five types of discounts for business products are as follows:

  • Cash discounts: It is provided for provoke payment without delay. A seller might present a discount of "3/15, net 45," implying that the purchaser may take a 3 percent discount if the invoice is paid inside 15 days and that the invoice must be pay all payable funds inside 45 days.
  • Quantity discounts: These discounts are given to consumers who purchase in huge amounts. The selling price per-unit is lesser for bigger purchasers...

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