PRE TEST WEEK 6 -011322

It is the expected amount of profit that the managers of a business expect to achieve by the end of a designated accounting period.

• Desired Profit

• Operational Cost

• Expected Profit

• Mark up

These are the ongoing expenses incurred from the normal day-to-day of running a business that include both overhead and costs of goods sold.

• Desired Profit

• Operational Cost

• Expected Profit

• Mark up

This is the profit that one expects to make from a deal, transaction, or project.

• Desired Profit

• Operational Cost

• Expected Profit

• Mark up

This is the amount added to the cost price of goods to cover overhead and profit.

• Desired Profit

• Operational Cost

• Expected Profit

• Mark up

It refers to the total expense incurred in reaching a particular level of output.

• Selling Price

• Price

• Total Cost (or Total Production cost)

• Mark up

The estimate price of a product or service.

• Selling Price

• Price

• Total Cost (or Total Production cost)

• Cost

The price at which a good or service is sold by the seller to the buyer.

• Selling Price

• Price

• Total Cost (or Total Production cost)

• Cost

The process of coming up with a cost to consumers of a good or service produced by a business.

• Selling Price

• Price Setting

• Total Cost (or Total Production cost)

• Cost

This is the value placed on goods and services offered to the public.

• Selling Price

• Price Setting

• Total Cost (or Total Production cost)

• Price

It refers to a labor cost, transportation, electricity, and other utilities, called _________________

• Operational Expenses

• Price Setting

• Cost of materials

• Profit