Business of Retail - Unit 4

Front

Which of the following refers to the total amount of money that a retailer brings in? (4.1) Options: Profit, Revenue, Cost of Goods Sold, Operating costs

Back

Revenue

Front

Which of the following refers to the amount of money that a retailer makes after accounting for expenses? (4.1) Options: Profit, Revenue, Cost of Goods Sold, Operation costs

Back

Profit

Front

Which of the following refers to the difference between revenue and cost of goods sold? (4.1)

Back

Gross profit

Front

Which of the following refers to the difference between revenue and all expenses, including the cost of goods sold and operating expenses? (4.1)

Back

Net profit

Front

What's the term for reducing the price of an item in order to encourage sales?

Back

Markdown

Front

If a business' revenue is $1,150 and its cost of goods sold (COGS) is $734, what is the business' gross profit?

Back

$416

Front

If a business' gross profit is $100 and its revenue is $500, what is the business' profit margin percentage?

Back

20%

Front

Carla has a small phone-accessory business. She buys accessories from manufacturers and resells them to her customers. Which of the following are NOT operating expenses for Carla? Website hosting fees, Transportation costs, Credit card processing fees.

Back

The costs of the phone accessories that she buys and resells.

Front

Using the manufacturer's suggested retail price is called:

Back

Vendor pricing

Front

Selling multiple products and services together at a lower retail price than if all items were purchased individually is called:

Back

Bundle pricing