When Determining Markup as a Percentage of Cost, Divide the Markup

question 149

Multiple Choice

When determining markup as a percentage of cost, divide the markup amount by

• A) price.
• B) cost.
• C) quantity.
• D) revenue.
• E) 100.

---

Definitions:

Standard Of Care

The degree of care and diligence expected from a person or entity in a specific situation, often used in legal contexts to establish negligence.

Negligence

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, resulting in unintended harm to another party.

State Registration Requirements

Regulations mandating individuals or entities to officially register with state authorities to conduct certain activities legally.

Accountant

A professional who can plan, direct, and evaluate a client’s financial affairs.