Bold terms Flashcards
A reduction in the list price of an item or service
discount
list price
regular price
may be expressed as a percent or fraction
rate of discount
when you order by mail, you usually pay a shipping charge based upon
the total weight of the order
the postal zone which you live
a list of clothes you now have, your clothes that need to be discarded, and clothes that you need to purchase or make
clothing plan
what is the base year for CPI-U in clothing
1982 - 1984
price paid for an item
cost
price received for an item
selling price
the excess of the selling price over the cost
gross profit
the excess of the selling price over the cost plus overhead
net profit
includes expenses
overhead
a summary of the records of profit and loss for a business
operating statement
formula for gross profit
selling price - cost
formula for net profit
selling price - cost - overhead
loss
cost = overhead - selling price
