A trade discount is a reduction in list price given by a seller to a buyer, often based on quantity, business relationship, or market practice. It is generally adjusted at the time of invoicing and may not always be separately recorded as an accounting expense. Trade discounts differ from cash discounts, which are linked to early payment.
Turnover
Turnover can have different meanings depending on context, but it commonly refers either to total sales revenue or to the speed at which something...
Trust Account
A trust account is an account in which money is held by one party on behalf of another for a specific purpose. It is...
Trial Balance
A trial balance is a statement listing the balances of all ledger accounts at a specific date to check whether total debits equal total...
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