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10 Cards in this Set
- Front
- Back
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amount paid for an item
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cost
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the difference between the cost and the selling price
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gross profit
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the difference between the regular selling price of an item and its sale price
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markdown
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the markdown expressed as a percent of the regular selling price of the item
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markdown rate
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the difference between the cost and the selling price
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markup
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the markup expressed as a percent
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markup rate
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your markup is longer than your overhead or operating expenses
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net profit
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the net profit expressed as a percent of the selling price of the item
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net profit rate
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include wages and salaries of employees, rent, utility charges, and taxes
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operating expenses
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or retail price, is what a product actually sells for in the store
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selling price
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