Download App

P1 C1 Accounting and Its Terminology — Account STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceAccountP1 C1 Accounting and Its Terminology1 Mark
Question
What is the main difference between discount and allowance (Kasar) ?
✓

Answer

Discount means certain amount deducted at pre-determined rate for the timely payments receipts. And allowance means at the time of settlement of an account, certain amount is not to pay is known as Kasar or allowance.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "Answer In One Or Two Sentence .(1 Marks)" from P1 C1 Accounting and Its Terminology→P1 C1 Accounting and Its Terminology — all question types→Account STD 11 Commerce question papers→Gujarat Board STD 11 Commerce question papers→Gujarat Board question paper generator→

Similar questions

Describe different methods to record depreciation on asset from the view point of accounting.
→
Write the other names of rough books.
→
Explain the formula of Net amount of purchase.
→
In India, what is to be followed by companies while preparing books of accounts?
→
Which accounting treatment will be given for outstanding revenue income under equation method?
→
Which type of approach Is $A = C + L?$
→
What is inter state supply transaction?
→
What is $GST$ and types of $GST?$
→
When Bank book is maintained by the trader?
→
To which account, effect of credit transaction is found ?
→