PURCHASE DISCOUNT Definition

Bookmark and Share

PURCHASE DISCOUNT is a reduction in the purchase price, allowed if payment is made within a specified period.

Learn new Accounting Terms

13TH PERIOD in the fiscal year is the period used for fiscal year-end adjusting entries (periods 1-12 being the months in the fiscal year).

ANNUALIZE is a statistical technique whereby figures covering a period of less than one year are extended to cover a 12-month period. The technique, to be accurate, must take seasonal variations into consideration.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.