Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 46 - No. 22)
In the context of trade discounts, what is meant by the term 'net price'?
The price before any discounts are applied.
The final price after the trade discount has been deducted.
The cost of goods sold.
The discount amount.
Explanation
The net price refers to the price after any discounts have been applied.
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