The amount by which the selling price of an item is reduced is referred to as the:
A) margin
B) cost
C) reduced price
D) markdown

Question

Quizplus · Accepted Answer

The word 'markdown' specifically refers to the decrease in selling price of an item. The margin refers to the difference between the selling price and the cost, and the cost refers to the expense incurred in producing or acquiring the item. Reduced price is a general term and does not necessarily imply a decrease from the original selling price.

The Amount by Which the Selling Price of an Item