State whether the following statement are true or false with reason :

1.	State whether the following statement are true or false with reason :A cash discount is an incentive allowed for the speedy recovery of income.
Answer» This statement is True. A cash discount is given by the creditor or seller to the debtor or buyer to induce him to make prompt payment. It is given at the time of cash payment.

State whether the following statement are true or false with reason :A cash discount is an incentive allowed for the speedy recovery of income.

Answer»

This statement is True.

A cash discount is given by the creditor or seller to the debtor or buyer to induce him to make prompt payment. It is given at the time of cash payment.

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State whether the following statement are true or false with reason :A cash discount is an incentive allowed for the speedy recovery of income.

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