Cash Discount and Trade Discount Quiz
Authored by Manju Pillai
Education
11th Grade
Used 4+ times
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a trade discount?
To encourage customers to purchase more goods or services from the supplier
To calculate the cash discount percentage
To reduce the amount owed by a customer to a supplier
To record transactions in accounting records
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is a trade discount usually calculated?
As a fixed amount per transaction
As a percentage of the list price of the goods or services
As a percentage of the cash discount
As a percentage of the invoice amount
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a cash discount?
To record transactions in accounting records
To calculate the trade discount percentage
To encourage customers to purchase more goods or services from the supplier
To encourage customers to pay their bills promptly
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is a cash discount usually calculated?
As a percentage of the trade discount
As a percentage of the list price of the goods or services
As a fixed amount per transaction
As a percentage of the invoice amount
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When does a customer get a cash discount?
If they pay the full amount within 30 days
If they choose not to take the trade discount
If they purchase more goods or services from the supplier
If payment is made within a specified period of time
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