Refund can be defined as return of a part of a purchase, Ask an Expert

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Refund can be defined as return of a part of a purchase price by a seller to a buyer, usually on a purchase of a specified quantity or a value of goods within a specified period.

Unlike discount which is deducted in advance of a payment, rebate is always given after the payment of full invoice amount.

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Statistics and Probability, Statistics

Category:- Statistics and Probability
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