Have an account?
Skip to Content
Build your own quiz
Suggestions for you
20 questions
Show Answers
See Preview
- 1. Multiple Choice
What do you know about the Cost Price (C)?
The price of goods that we purchased from the manufacturer
The price at which merchandise is offered for sale to the customer.
Original price of the goods paid by the retailer to the manufacturer or supplier
Amount of payment made by the retailer to the manufacturer after deducting trade and cash discount
- 2. Multiple Choice
What do you know about the Selling Price (SP)?
The price at which merchandise is offered for sale to the customer
Amount in Ringgit
Original price of the goods paid by the retailer to the manufacturer or supplier
Also known as retail price
- 3. Multiple Choice
What do you know about the Mark-Up (M)?
The price at which merchandise is offered for sale to the customer
Also known as gross profit and gross margin
Original price of the goods paid by the retailer to the manufacturer or supplier
Amount added to the cost in order to cover business expenses and generate profit
The difference between the cost price and its selling price
- 4. Multiple Choice
What are the formula of Selling Price?
Selling Price= Cost + Markup
SP=C+Msp for markup based on selling price
SP=C+Mc for markup based on cost price
SP=C+M
SP=C+OE+NP
- 5. Multiple Choice
What do you know about MarkDown?
The abbreviation is M
The formula is to calculate the Markdown is, Markdown=Old Selling Price-New Selling Price
The formula is to calculate the Markdown is, Markdown=New Selling Price-Old Selling Price
Is the reduction in the selling price of merchandise due to many reasons such as to increase sales, to face stiff competition, to encourage purchase in bulk, to dispose old, damaged/obsolete stocks
The abbreviation is MD
- 6. Multiple Choice
Net Profit _________
is equal to gross profit
can be calculated using formula, NP=M-OE
is the reduction in the selling price of merchandise due to many reasons such as to increase sales, to face stiff competition, to encourage purchase in bulk, to dispose old, damaged/obsolete stocks
is the amount (if any) which remains after the cost of goods and operating expenses have been paid.
- 7. Multiple Choice
What do you know about BEP?
Breakeven Point
the price at which merchandise is offered for sale just to cover the cost and the operating expenses
means that it does not make any profit nor incur any loss
Is the amount (if any) which remains after the cost of goods and operating expenses have been paid
the additional amount of cost price and operating expenses
- 8. Multiple Choice
When the difference between New Selling Price and Breakeven Price is positive, we can say _______ is obtained.
Loss
Profit
- 9. Multiple Choice
When the difference between New Selling Price and Breakeven Price is negative, we can say _______ is obtained.
Loss
Profit
- 10. Multiple Choice
A computer is purchased for RM2500 with 20% of mark-up based on cost.
What is the value of RM2500 stand for?
List Price
Cash Price
Cost Price
- 11. Multiple Choice
A computer is purchased for RM2500 with 20% of mark-up based on cost.
What is the value of 20% stand for?
20% of mark-up based on selling price
20% of mark-up based on cost price
- 12. Multiple Choice
A computer is purchased for RM2500. If the Operating Expenses is RM500 and the Net Profit is RM 200
How much is the Selling Price
RM 3000
RM 3500
RM 3200
RM 2700
- 13. Multiple Choice
A computer is purchased for RM2500 and Gross Margin is RM100
How much is the Selling Price
RM 3000
RM 3500
RM 3200
RM 2600
- 14. Multiple Choice
A computer is purchased for RM2500 and Gross Margin is RM100
How much is the Mark-up?
RM 2500
RM 100
RM 3000
RM 2600
- 15. Multiple Choice
A computer is purchased for RM2500. A retailer decides to sell the computer at RM3000.
How much is the Mark-up?
RM 5500
RM 100
RM 500
RM 1000
- 16. Multiple Choice
A computer is purchased for RM2500. A retailer decides to reduce the selling price of the computer from RM3000 to RM 2700.
What do you think the value of RM3000 is?
New Selling Price
Cost Price
Old Selling Price
Markdown
- 17. Multiple Choice
A computer is purchased for RM2500. A retailer decides to reduce the selling price of the computer from RM3000 to RM 2700.
How much is the Mark Down?
RM 300
RM 100
RM 500
RM 1000
- 18. Multiple Choice
A computer is purchased for RM2500. A retailer decides to reduce the selling price of the computer from RM3000 to RM 2700.
What do you think the value of RM 2700 is?
New Selling Price
Cost Price
Old Selling Price
Markdown
- 19. Fill in the Blank
The abbreviation of Net Profit is ...
- 20. Fill in the Blank
GP is the abbreviation of ...
- Answer choicesTagsAnswer choicesTags