BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS MATHEMATICS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The markup based on the selling price is called the revenue.
A
True
B
False
Explanation: 

Detailed explanation-1: -Markup is the difference between a product’s selling price and cost as a percentage of the cost. For example, if a product sells for $125 and costs $100, the additional price increase is ($125 – $100) / $100) x 100 = 25%.

Detailed explanation-2: -Markup (or price spread) is the difference between the selling price of a good or service and cost. It is often expressed as a percentage over the cost. A markup is added into the total cost incurred by the producer of a good or service in order to cover the costs of doing business and create a profit.

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