A Normative Statement Is Generally Based Upon

question 93

Multiple Choice

A normative statement is generally based upon:

• A) data that can be tested.
• B) a factual claim.
• C) subjective beliefs.
• D) scientific fact.

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Definitions:

Operating Profit

The profit earned from a firm's normal business operations, excluding deductions of taxes and interest.

Markdown

A reduction in the selling price of goods or services, often used as a sales strategy to encourage consumer purchases or to clear older stock.

Mark-up

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

Spoilage

Products or materials that have become unfit for sale or use, often leading to financial loss for a business.