Match the Following Business Types with Each Business Listed Below

question 213

Multiple Choice

Match the following business types with each business listed below. Each may be used more than once.
-A hospital

• A)Service business
• B)Manufacturing business
• C)Merchandising business

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Definitions:

Gross Profit

The difference between sales and the cost of goods sold, indicating the profitability of a company's core business activities.

Estimated Cost

An approximation of the financial expenditure associated with a project or production.

Ending Inventory

The final value of goods available for sale at the end of an accounting period after subtracting the cost of goods sold.

Retail Method

A pricing strategy used in retail to maintain a consistent profit margin by marking up goods based on their wholesale cost.