Match Each Key Term with the Appropriate Definition

question 98

Multiple Choice

Match each key term with the appropriate definition
-Cost to selling price.

• A)additional Mark up
• B)allowance method
• C)conventional retail method
• D)markdown cancellation
• E)net realizable value
• F)net additional markup
• G)markup
• H)gross profit method

---

Definitions:

Conditions Precedent

Specific conditions that must be fulfilled before a contract or agreement becomes legally binding.

Negotiable Instrument

An official written promise to pay a specified amount of money, which can be demanded at any time or payable at an agreed upon time, identifying the payer on the document.

Secondary Liability

A legal responsibility whereby one party is held liable for the actions of a third party, typically in copyright or partnership cases.

Unauthorized Signature

An unauthorized signature is a signature made without the express permission of the person whose name is signed, often considered fraudulent or voidable.