Discount allowed is shown in financial statements as
FINANCIAL
WAEC 2023
Discount allowed is shown in financial statements as
- A. an asset
- B. an income
- C. a liability
- D. an expenses
Correct Answer: D. an expenses
Explanation
Expenses are total amount paid or to be paid for resources used in the accounting period e.g wages, electricity, discount allowed, carriage outward etc.
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