_______________ Markup Is the Difference in the Cost of the Merchandise

question 15

Short Answer

_______________ markup is the difference in the cost of the merchandise and the actual selling price.

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Definitions:

Retail Companies

Businesses that sell goods directly to consumers, typically operating from physical locations or through online platforms.

Proprietorship

A business owned by one individual.

Personal Assets

Personal assets include all property owned by an individual that has value, such as cash, real estate, investments, and personal belongings.

Liabilities

Financial obligations or debts that a company owes to others, recorded on the right side of the balance sheet.