In 2014 the Median Age of the UK Population Was

question 18

Multiple Choice

In 2014 the median age of the UK population was:

• A) 44
• B) 40
• C) 32
• D) 36

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Definitions:

FOB Shipping

Free On Board Shipping, a term used in shipping agreements to specify which party (buyer or seller) pays for shipping costs and when the ownership of the goods transfers.

Import Duties

Import duties are taxes imposed by a government on goods imported into a country, often used to protect domestic industries and raise revenue.

Merchandise Cost

Merchandise cost is the total expense incurred to purchase goods for resale, including the purchase price, shipping, handling, and import duties.

Gross Profit Method

A technique to estimate the amount of ending inventory and cost of goods sold by using the gross profit margin.