It is allowed to a customer if he makes the payment before a certain date. It is an allowance given to him for prompt payment. Discount received is a gain and is credited to the Profit and Loss account. Discount allowed is debited to the Profit and Loss account.
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The test contains questions, only 1 option is correct for each question
This is a timed test.
After you have finished the test, press on the 'Finish Test' button to know your score and get the correct answers