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Is difference between whole price and discount be considered as a loss in accounting?
Wiki User
∙ 11y ago
No. You incur a loss when you sell something for less than its book value. So, for example, if land is on your books for $1,000 and you sell it for $600, you would incur a net loss.
A net loss is the difference between revenues and expenses, when the result comes out negative. If a company has $3,000 in revenues and $3,500 in expenses, it would incur a $500 net loss.
In accounting, sales discounts are deducted from sales price to compute the net sales
Wiki User
∙ 11y ago
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