When Craig purchased a VTech wireless mobile phone,he was able to mail in a proof-of-purchase and his cash register receipt to receive a cheque from VTech for $20.What did Craig receive?

Question

Quizplus · Accepted Answer

Craig received a rebate, which is a type of promotion where customers receive a portion of the purchase price back after providing proof of purchase. The $20 cheque he received was a form of cash rebate. Functional discounts (A) are reductions in price offered to resellers for performing certain functions, such as transportation or warehousing. Purchase allowances (C) and trade allowances (D) are discounts offered by manufacturers to retailers or wholesalers for purchasing a certain quantity of goods or displaying them prominently in stores.

When Craig Purchased a VTech Wireless Mobile Phone,he Was Able