Business Mathematics Midterm exam

It is a type of discount offered to a customer based on a number of different conditions.

• Series discount
• Single discount
• Trade discount
• Unlimited discount
• None

A price reduction from the original selling price of a service or a merchandise.

• Cost
• Markdown
• Markup
• Selling price
• None

It is the price for which a merchandising business or retailer sells a product to a costumer.

• Cost
• Markdown
• Markup
• Selling price
• None

A type of discount given to a costumer who purchase products in large quantity.

• Series discount
• Single discount
• Trade discount
• Unlimited discount
• None

It is the difference between cost and selling price.

• Cost
• Markup
• Markup rate
• Selling price
• None

It is the price of acquisition or amount incurred by the seller or retailer for a certain product/s or services for his/ her shop or store.

• Cost
• Mark up
• Selling price
• Markdown
• None

What type of discount is offered to a customer in return for paying a bill owed before the scheduled due date?

• Cash discount
• Series discount
• Single discount
• Trade discount
• None

What is the formula of getting the net amount?

• Cash discount – Invoice
• Cash discount / invoice
• Invoice – cash discount
• Invoice x cash discount
• None

Which of the following formula is use for computing markup rate?

• None
• None
• None
• None
• None

It is the sum of the acquisition or production cost and markup price.

• Markup on cost
• Markup rate on cost
• Markup rate on selling price
• Selling price
• None