Discounts and allowances - definition of Discounts and allowances by The Free Dictionary
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A reduction in the price of an item for sale allowed if payment is made within a stipulated period.
cash discount or
(Commerce) a discount granted to a purchaser who pays before a stipulated date
discount allowed a buyer from the amount due if paid within a specified period.
References in periodicals archive
This item discusses the IRS's views on inventory issues, including purchased and produced goods pooling under the LIFO inventory price-index computation (IPIC) method, maintaining required inventory records and reporting trade discounts and allowances
After deducting discounts and allowances
, net sales are expected to be approximately $40.
More than 40 percent of all money recovered in 1996 had been lost because companies, for various reasons, did not take vendor discounts and allowances
to which they were entitled.