A trade discount is:
A. A reduction in selling price below the list price.
B. A term used by a seller to describe a cash discount granted to customers for prompt payment.
C. Also called a rebate.
D. A term used by a purchaser to describe a cash discount given to customers for prompt payment.
E. A reduction in price for prompt payment.
Answer: A
You might also like to view...
When a company receives an order, a transaction has occurred
Indicate whether the statement is true or false
An exchange of value between two entities that yields a change in the accounting equation is called:
A. An external transaction. B. Net Income. C. Recordkeeping or bookkeeping. D. An asset. E. The accounting equation.
The Environmental Protection Agency (EPA) can prohibit the construction of a new pollution-causing industrial plant in a state that is a nonattainment area
Indicate whether the statement is true or false
DeFeet InternationalDeFeet International started as a cyclist sock company. The founder, Shane Cooper, said that the existing socks for cyclists were just not of great quality so he made socks for his cycling team by knitting them inside out. The socks were of special materials aimed at giving the cyclist the most comfortable fit. These socks were not the traditional white socks but bright, bold, and flashy colored socks with cool graphics. These high tech socks were priced around $10 a pair. Their web site says "DeFeet is Made for Driven Soles." Soon cycling elites like Lance Armstrong and Greg LeMond were sporting the DeFeet brand. The company branched into running, hiking and snow gear. Their products include socks, armskins, calfskins, boxer briefs, gloves, and shirts for the serious
athlete. They also have a custom department where socks, armskins, and gloves can be customized with any motif including sponsor types of logos like Michelin, Pabst Blue Ribbon, or BP. Even kids can enjoy DeFeet's high quality socks. DeFeet's products can be found in retailers across the world, in more than twenty countries, like Israel, Australia, Belgium and the United States. More than two-dozen online retailers also carry their products.Refer to DeFeet. DeFeet's _____ is what its customers give up to obtain their apparel. A. product strategy B. place strategy C. price strategy D. promotion strategy E. positioning strategy