Discount allowed is
A. Expense of business
B. Income of business
C. Loss of business
D. Abnormal loss of business
Answer: Option A
Solution (By Examveda Team)
Discount allowed is Expense of business. When the buyer receives a discount, this is recorded as a reduction in the expense (or asset) associated with the purchase, or in a separate account that tracks discounts.This Question Belongs to Commerce >> Accounting
This is a loss