Determining Prices (Grade 10 NSC Matric Accounting): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is the formula for calculating selling price?
What is the formula for calculating selling price?
CP + MU = SP
What is another term for cost price?
What is another term for cost price?
Cost of sales
Why must a business add a mark-up to the cost price?
Why must a business add a mark-up to the cost price?
To generate profit from selling goods
When working with percentage mark-ups, the cost price is always treated as what percentage?
When working with percentage mark-ups, the cost price is always treated as what percentage?
100%
A trader buys goods for R80 and adds a 50% mark-up. What is the selling price?
A trader buys goods for R80 and adds a 50% mark-up. What is the selling price?
R120
An item sells for R180 with a 20% mark-up. What was the cost price?
An item sells for R180 with a 20% mark-up. What was the cost price?
R150
Which of these is an example of direct labour?
Which of these is an example of direct labour?
A baker who bakes bread
Which worker represents indirect labour costs?
Which worker represents indirect labour costs?
Security personnel at premises
What are the two types of income mentioned?
What are the two types of income mentioned?
Fee income and sales income
How do expenses affect a business?
How do expenses affect a business?
They reduce overall profit