All of the Following Observations Concerning Markups Are True Except

question 154

Multiple Choice

All of the following observations concerning markups are true except

• A) they guide pricing by intermediaries.
• B) they are used by most retailers and wholesalers to set prices.
• C) they are a cost-oriented price setting approach.
• D) they are usually stated as dollar amounts.
• E) they are related to selling price for convenience.

---

Definitions:

Percentage

A portion or share expressed as a fraction of 100, commonly used to compare differences in quantities.

Percentage

A rate, number, or amount in each hundred, represented by the symbol %.

Base

The fundamental component or main ingredient in a mixture, formula, or system.

Decimal Places

The number of digits to the right of the decimal point in a number, significant in precision of measurements and calculations.