The Key to the Equality of Output and Income Is

question 32

Multiple Choice

The key to the equality of output and income is:

• A)employee compensation.
• B)profit.
• C)business taxes.
• D)transfer payments.

Understand and calculate cash discount rates.

Calculate the payment required to settle outstanding invoices, considering sequential payments and terms.

Understand the equivalence and cumulative impact of multiple discounts on pricing.

Conceptually distinguish between the rate of mark-up on cost versus the rate of mark-up on selling price and explain scenarios where one may exceed 100%.