Question

Question 1




When markups are based on the selling price, the:
Answer







selling price is the portion








selling price is 100 percent








selling price is cost - markup








selling price is 100 percent + cost percent








none of these

.

2 points


Question 2




Operating expenses are the unusual expense of doing business.
Answer True
False .

2 points


Question 3




Bill's Furrier marks up mink coats $3,000. This represents a 50% markup on cost. What is the cost of the coats?
Answer







1,500.








6,000.