Introduction to Markup Price

Q.

What Is the Bill of Discounting?

Q. Profit is the difference between the selling price and the total cost.

1. True
2. False

Q.

What is a cash discount?

Q.

$\_\_\_\_\_\_\_\_\_$ is a reduction on the marked price of the article.

Q. The original price of a school bag is $50. The markup used by the store on the school bag is 100%. Find the selling price of the school bag.

1. $\$150$
2. $\$75$
3. $\$200$
4. $\$100$

Q.

The discount on an item for sale is calculated on the _________.

Q. = Overhead Costs + Profit

1. Total Cost
2. Selling Price
3. Markup

Q.

What is difference between trade discount and cash discount?

Q. Price at which product or service is sold by the seller to the buyer is called

1. Markup.
2. Overhead Cost.
3. Selling Price.

Q.

How is the trade discount different from the cash discount?

Q.

What is a cash discount entry?

Q.

Discount Allowed Is

Q.

What is a normal cash discount?

Q. The cumulative cost of manufacturing a product is known as the cost.

1. Manufacturing
2. Overhead
3. Total

Q.

Which of the following would not cause an adjustment to gross inventory after a purchase occurs?

1. Returns

2. Quantity discounts

3. Allowances

4. Purchase discounts

Q. A bag of choclates costs $\$20$ to manufacture and is sold for $\$25$, then the percentage markup is $\text{\%}$ .

1. 25
2. 20
3. 50

Q.

Which Of The Following Statement Is True For Cost Audit Is Compulsory?

1. Cost Audit Is Compulsory For Sugar Company

2. Cost Audit Is Compulsory For Tele Communication.

3. Cost Audit Is Compulsory For Petroleum products

4. Cost Audit Is Compulsory For Fertilization Company

Q. If the selling price of a tie is $\$50$ and the cost price of tie is $\$30$. Find the markup

1. $\$10$
2. $\$30$
3. $\$80$
4. $\$20$

Q. The total cost of a large box of cookies is $\$4$ which is then sold for $\$10$ a box, the profit percentage is %

1. $100\%$
2. $150\%$
3. $50\%$

Q. For an object sold at a negative profit, loss is incurred to the seller.

1. True
2. False

Q. The cost of an item is $\$75$. Choose the value(s) that produce(s) a markup.

1. $\$70$
2. $\$85$
3. $\$100$
4. $\$60$

Q. Overheard costs are the costs that are in addition to the manufacturing costs, such as distribution and storage.

1. True
2. False