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Answer in one sentence. What do you mean by rebate?

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Question

Answer in one sentence.

What do you mean by rebate?

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Solution

The definition of a rebate is a discount given to a customer at the time of purchase, or money sent to a customer after they've paid the full price. Rebate is defined as giving a discount on something or give a portion of an amount billed back to the payer.

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Chapter 7: Bills of Exchange - Exercise 7.1 (Objective Questions) [Page 303]

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Balbharati Book-Keeping and Accountancy [English] Standard 12 Maharashtra State Board
Chapter 7 Bills of Exchange
Exercise 7.1 (Objective Questions) | Q F. 8) | Page 303
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