WAEC SSCE 2020 Expo: Book Keeping Paper III & II Objective Theory Questions And Answers Posted Online. January / February First series Free Expo subscription Runz. Book Keeping waec syllabus, waec expo, Free verified complete waec questions and answers on Book Keeping, waec gce 2020 Book Keeping full verified questions and answers, waec Book Keeping past questions, Book Keeping wassce past questions site, waec gce expo Book Keeping website, 2020/2021 free waec expo Book Keeping website posted on WhatsApp.
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WAEC Book Keeping Obj and Theory/Essay 2020/2021 Free Questions & Answers Posted Online
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1a) Click here to load more pictures questions and answers
Trading Account is an account which is prepared to determine the gross profit or gross loss of a business concern.
1bi) Closing stock
ii) sales and sales return
iii) purchase jambadmission.com.ng related expenses
iv) factory or manufacturing expenses
v) Purchase returns
vi) opening stock
vii) Carriage inward
What is Discount ? Meaning
In simple terms, Discount is an allowance or
concession in price. Discount is given so that the buyer is induced (lured) to place an jambadmission.com.ng expo runz order and later to make payment in time.
Discount can be also referred to as a deduction in price. The seller deducts the discount from the gross or total price, and the buyer is supposed to pay the net amount.
(1)Cash discount is an allowance or concession given by the seller to the buyer.
(2) This discount is offered to encourage the buyer for quick payment or settlement.
(3) It is allowed for immediate payment of cash or payment within a short period.
(4) The cash discount is normally shown in the quotation and invoice . It is deductible from the total price and the buyer is requested to pay only to the net amount. Click here to load more questions and answers
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