The difference in the cost of a product and the retail price.
A)Cost
B)Gross sales
C)Mark-up
D)Net Sales

Question

Quizplus · Accepted Answer

Mark-up refers to the difference between the cost of a product and its retail price. It is the amount added to the cost to determine the selling price. Gross sales refer to the total revenue earned before any deductions, while net sales refer to the revenue earned after deductions such as discounts and returns. Therefore, the best choice to describe the difference in cost and retail price is mark-up (C).

The Difference in the Cost of a Product and the Retail