Target Profit Pricing Refers to

question 68

Multiple Choice

Target profit pricing refers to

• A) adjusting the price of a product so it is "in line" with that of its largest competitor.
• B) setting an annual target of a specific dollar volume of profit.
• C) setting the price of a line of products at a number of different price points.
• D) adding a fixed percentage to the cost of all items in a specific product class.
• E) setting prices to achieve a profit that is a specified percentage of production costs.

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Definitions:

Governmental Fund Financial Statements

Financial reports that focus on the sources, uses, and balances of governmental funds and provide insight into fiscal accountability.

Proprietary Funds

Funds used by a governmental entity to account for activities similar to those found in private businesses, where the determination of net income, financial position, and changes in financial position is necessary.

For-Profit Organizations

Entities that operate with the primary goal of earning profit, distributing earnings to owners or shareholders.

Fiduciary Funds

Financial resources administered by a trustee or fiduciary on behalf of individuals or entities, following specific guidelines and for a specific purpose.