Pricing Merchandise-Quiz

Exercise 1

Fill the following answer on the blank

1. _________________ What is the abbreviation ROG?
2. _________________ What the difference between cost and selling price?
3. Downward adjustments of the selling price are often necessary to induce customers to buy and are referred to as ______________.
4. An adjustment of the retail price is known as ______________.
5. Cash discount are referred to as  _________________.
6. When cost is used as a basis for markup percent, it is sometimes  known as as ___________.
7. The " 2 " in 2/10, n/30 is the  ____________________.
8. In order to give consideration to pricing and profit planning, it is important to consider the __________.
9. A substitute for varying increasing single  discounts to different classes of purchases is referred to as a ____________. 
10. An inducement offered to the buyer to encourage payment of his or her bill within a specific period of time is called a _____________