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WAEC Commerce 2022 Question 22

Question 22

Purchase and Sale of Goods

The incentive given to a buyer to encourage prompt payment is

  1. A.cash discount
  2. B.seasonal discount
  3. C.quantity discount
  4. D.trade discount
Show the answer and explanation

Answer: A (cash discount)

Explanation

A cash discount is a reduction given when a buyer pays promptly or within an agreed time.