The text says "markup" means percent of:
A) "mark-on."
B) selling price-unless otherwise stated.
C) fixed cost.
D) delivered cost-unless otherwise stated.
E) cost of sales.

Question

Quizplus · Accepted Answer

Markup is typically calculated as a percentage of the selling price, unless otherwise stated. It is not directly related to cost or fixed cost. It may also vary depending on the situation and industry, so it cannot be assumed as a fixed percentage of anything other than the selling price.

The Text Says "Markup" Means Percent Of