A Markdown Is

question 64

Multiple Choice

A markdown is:

• A) only based on selling price after a markup based on cost
• B) always based on selling price
• C) never based on selling price
• D) based on either cost or selling price

---

Definitions:

Effective Tax Rate

The actual rate at which an individual or a corporation is taxed, calculated by dividing the total tax paid by the taxable income.

Consolidated Balance Sheet

A financial statement showing the combined assets, liabilities, and equity of a parent company and its subsidiaries.

Non-controlling Interest

A shareholder's equity in a subsidiary that is not attributable to the parent company, representing minority ownership.

Consolidated Net Income

The total earnings of a corporation, after tax, including earnings from subsidiaries, before distributing dividends.