Markup Refers to

question 57

Multiple Choice

Markup refers to

• A)the difference between the final selling price and how the customer values the product.
• B)selling brand name merchandise at lower than regular prices.
• C)the amount added to the cost the retailer paid for a product to reach the final selling price.
• D)the difference between the retail cost and initial selling price.
• E)the reduction in retail price, usually expressed as a percentage equal to the amount reduced, divided by the original price, and multiplied by 100.

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Definitions:

Deferred Revenue

Money received by a company for goods or services which have not yet been delivered or performed.

Notes Payable

Short-term or long-term liabilities representing amounts owed to creditors, documented by promissory notes.

Long-term Note Payable

A debt obligation that is not due for repayment within the next year or operating cycle of the business.

Periodic Instalment

Regular, scheduled payments made over time to repay a debt.