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Byju's Answer
Standard XII
Business Studies
Types of Sales Promotion
is a reductio...
Question

____________is a reduction from the list price of goods and services on account of immediate or payment within a stipulated period.

A
Trade discount
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B
Cash discount
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C
Festival discount
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D
Inaugural discount
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Solution

The correct option is B Cash discount
Discount are categorized as Trade discount and Cash discount.

Trade discount are general discount allowed to every customer to promote the sales.

Cash discount is method of speedy collection of money from the customers to whom goods were sold on credit. Cash discount is allowed to the existing customer with a condition that if the amount is paid on immediate basis or within a stipulated period, a certain percentage will be allowed as discount.

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Q. _________is a reducing from the list price of goods and services on business consideration other than prompt payment.
Q. Journalise the following transactions in the books of M/s. R.K. & Co.:
(i) Purchased goods of list price of ₹ 20,000 from Vishal at 20% trade discount against cheque payment.
(ii) Purchased goods of list price of ₹ 20,000 from Naman at 15% trade discount against cash.
(iii) Purchased goods of list price of ₹ 30,000 from Amrit at 20% trade discount.
(iv) Purchased goods of list price of ₹ 40,000 for ₹ 35,000 for cash.
(v) Goods returned of list price ₹ 10,000 purchased from Amrit.
(vi) Sold goods to Parul of list price of ₹ 40,000 at 10% trade discount against cheque payment.
(vii) Sold goods to Aman of list price of ₹ 30,000 at 10% trade discount against cash.
(viii) Sold goods to Pawan of list price of ₹ 20,000 at 10% trade discount.
(ix) Sold goods to Yamini of list price of ₹ 25,000 for ₹ 23,000.
(x) Sold goods costing ₹ 10,000 at cost plus 20% less 10% trade discount to Bhupesh.
(xi) Sold goods purchased at list price of ₹ 50,000 less 15% trade discount sold at a profit of 25% less 10% trade discount against cheque.
(xii) Aman returned goods of list price of ₹ 10,000 sold to him at 10% trade discount.
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