Accounting · Discounts
Which of the following is true regarding trade discounts in accounting?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1They are debited to the profit and loss account.
- 2They are used for calculating cash discounts only.
- 3They are not recorded separately in the books of accounts.✓
- 4They are recorded separately in the books of accounts.
Correct answer
They are not recorded separately in the books of accounts.
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