Question 1

To compute the unit ___________ of each article, add the cost of materials and cost of labor.

Accepted Answer

Cost

Answer

Gain

Answer

Earned

Answer

Selling price

Question 2

You do not need toad mark-up to get the selling price.

Accepted Answer

R

Answer

W

Question 3

Place or location is very important in conducting business.

Accepted Answer

R

Answer

W

Question 4

The role of traders is to act as the link to the producer and distributor.

Accepted Answer

R

Answer

W

Question 5

You do not need capital if you want to sell some preserved foods for a livelihood.

Accepted Answer

W

Answer

R

Question 6

You need to be hard working and persistent to be able to market your products.

Accepted Answer

R

Answer

W

Question 7

The sum of mark-up price and capital is the __________

Accepted Answer

Selling price

Answer

Expenses

Answer

Inventory

Answer

Sales

Question 8

Refers to the amount of money received in exchanged for the product sold.

Accepted Answer

Sales

Answer

Inventory

Answer

Selling price

Answer

Expenses

Question 9

This refers to the amount of gain earned from sale or service/product sold

Accepted Answer

Sales

Answer

Selling price

Answer

Inventory

Answer

Expenses

Question 10

Refers to the amount of money paid in exchanged for product received and purchased

Accepted Answer

Expenses

Answer

Sales

Answer

Inventory

Answer

Selling price

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