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Meaning Of Rebate On Bills Discounted
Meaning Of Rebate On Bills Discounted -
A rebate is a partial refund given after the purchase while a discount is an immediate price reduction at the time of purchase Rebates often require customers to submit a claim or fulfill certain conditions to receive the refund whereas discounts are applied automatically
Q What is the meaning of a rebate on bills discounted Ans Rebate on bills discounted refers to the amount of money a financial institution returns to a borrower who has repaid their loan
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Door Rebate Meaning What Is The Meaning Of Rebate On Bills Discounted
Door Rebate Meaning What Is The Meaning Of Rebate On Bills Discounted
Discounting of Bills The drawer may discount the bill with the bank before the due date The bank charges discounting charges from the drawer at a certain rate Thus at the time of discounting the bank deposits the net amount after charging such amount of discount in the account of the holder of the bill
But this amount of discount is meant for March April and May As accounts are prepared on 31st March each year discount received for 61 days 30 31 for April and May is not actually earned Thus discount of 61 days i e Rs 601 is called Rebate on Bill Discounted
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Q What is the meaning of a rebate on bills discounted Ans Rebate on bills discounted refers to the amount of money a financial institution returns to a borrower who has repaid their loan
https://www.accountingcapital.com/differences-and...
Discount is the reduction offered by a seller to the buyer from the purchase price of goods or services Rebate is refund or return of currency value that a seller of goods provides to the buyer for various different reasons Reasons To promote high quantity purchases receive timely payments and increased sales
Q What is the meaning of a rebate on bills discounted Ans Rebate on bills discounted refers to the amount of money a financial institution returns to a borrower who has repaid their loan
Discount is the reduction offered by a seller to the buyer from the purchase price of goods or services Rebate is refund or return of currency value that a seller of goods provides to the buyer for various different reasons Reasons To promote high quantity purchases receive timely payments and increased sales
Rebate On Bills Discounted Meaning Method Of Computation And
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Solved Previous University Questions On Calculation Of Rebate On Bills
