Question

Match each of the following terms with the best corresponding definition.

Terms:

A. Sales allowance

B. Purchase return

C. Sales discount

D. Purchase discount

E. Sales return

F. Trade discount

G. Purchase allowance

Definitions:

i. A customer returns merchandise for a full refund

ii. A retailer receives a partial refund but keeps the defective merchandise

iii. A customer receives a partial refund but keeps the defective merchandise

iv. A customer pays their account in full within the discount window

v. A type of purchase discount negotiated between a manufacturer and a retailer before settlement on a final price

vi. A retailer returns merchandise for a full refund

vii. A retailer pays their account in full within the discount window

Answer 1

Matching terms with the best corresponding definition-

A. Sales allowance	iii. A customer receives a partial refund but keeps the defective merchandise.
B. Purchase return	vi. A retailer returns merchandise for a full refund.
C. Sales discount	iv. A customer pays their account in full within the discount window.
D. Purchase discount	vii. A retailer pays their account in full within the discount window.
E. Sales return	i. A customer returns merchandise for a full refund.
F. Trade discount	v. A type of purchase discount negotiated between a manufacturer and a retailer before settlement on a final price.
G. Purchase allowance	ii. A retailer receives a partial refund but keeps the defective merchandise.

Thanks & all the best........................