Match the Term with Its Definition

question 86

Multiple Choice

Match the term with its definition.
-Land and anything physically attached to the land, such as buildings

• A)personal property
• B)proximate cause
• C)real property
• D)risk control
• E)risk financing
• F)risk management
• G)risk retention
• H)risk transfer
• I)self-insurance
• J)torts

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Definitions:

Mark-up

The difference between the cost of a good or service and its selling price, expressed as a percentage of the cost.

Selling Price

The price at which a product or service is sold to customers, determining the revenue generated from sales.

Retailer's Cost

The price a retailer pays to procure goods for sale, not including additional expenses like marketing or distribution.

Mark-up

The amount added to the cost price of goods to cover overhead and profit, resulting in the retail price.