Discount allowed is shown in financial statements as
...Discount allowed is shown in financial statements as
An asset
An income
A liability
An expenses
Correct answer is D
Expenses are total amount paid or to be paid for resources used in the accounting period e.g wages, electricity, discount allowed, carriage outward etc.
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Use the following to answer the given question, \(\begin{array}{c|c} & ₦ \\ \hline Premises...