Give the meaning of rebate. | Class 11 Accountancy Chapter Bill of Exchange, Bill of Exchange NCERT Solutions

Question:

Give the meaning of rebate.

Answer:

A rebate is a payment back to a buyer of a portion of the full purchase price of a good or service. This payment is typically triggered by the cumulative amount of purchases made within a certain period of time.

The rebate is not paid until 10,000 units have been ordered by and shipped to the buyer.


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Welcome to the NCERT Solutions for Class 11 Accountancy - Chapter . This page offers a step-by-step solution to the specific question from Excercise 1 , Question 14: Give the meaning of rebate.....