Case-Based Critical Thinking Questions Case 3-1 James Owns an Auto

question 56

Multiple Choice

Case-Based Critical Thinking Questions Case 3-1 James owns an auto parts store. He wants to insert a table into his inventory report to keep the product names, quantities, and prices of the parts organized. He asks his friend Leon for help. James is having some difficulty formatting his table. Leon tells him that he should use _____ to enter a single line of parallel text in each column, so his inventory will look professional.

• A) columns
• B) tables
• C) tabs
• D) F2 key

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Definitions:

Markup

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

Cost-Plus Approach

A pricing strategy where a fixed percentage is added to the production cost to determine the sale price of a product.

Bottleneck

A stage in a process that reduces the overall capacity because it runs at the slowest speed.

Contribution Margin

The excess of sales over variable costs.