IS CASH DISCOUNT/RECIVED IS OPERATING EXPENSE/INCOME?
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Answer / h.r. sreepada bhagi
No. Cash Discount Received or paid are not Operating
Income/Expense. Only Trade Discount shown in the
Purchase/Sales Income is an operation item and needs to be
adjusted with Purchases/Sales while accounting the transaction.
Cash Discount Received can be accounted as Other Income &
Cash Discount Allowed/Paid can be accounted under Financial
Charges, as this is a result of financial decision.
|Is This Answer Correct ?||18 Yes||5 No|
Answer / gautam kothari
Cash discount paid is an operating expense.
|Is This Answer Correct ?||2 Yes||3 No|
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