DISCOUNT ALLOWED Definition

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DISCOUNT ALLOWED, normally, is a reduction of the invoice amount for early payment of the invoice value.

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TANGIBLE BOOK VALUE is different than book value in that it deducts from asset value intangible assets, which are assets that are not hard (e.g., goodwill, patents, capitalized start-up expenses and deferred financing costs).

ACCRUAL CONCEPT see ACCRUAL BASIS OF ACCOUNTING.

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