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Ch. 22 Test Review #4
Test Description: A review of the promotion and price marketing mix elements.
Instructions: Answer all questions to get your test result.
1) Amount by which the original selling price is reduced before sale.
A
Cash discount
B
Markdown
C
Selling price
D
Markup
2) Reduction in price given for paying by a certain date.
A
Cash discount
B
Seasonal discount
C
List price
D
Markdown
3) Advertising that violates the law.
A
False advertising
B
Corrective advertising
C
Turnover
D
Full disclosure
4) Difference between selling price and all costs and expenses.
A
Net profit
B
Margin
C
Markup
D
List price
5) Advertising designed to change a false impression left by earlier misleading information.
A
False advertising
B
Corrective advertising
C
Advertising
D
Full disclosure
6) Providing all information that allows consumers to make an informed buying decision.
A
Full disclosure
B
Corrective advertising
C
Advertising
D
Turnover
7) Amount added to the cost of goods sold to calculate a selling price.
A
Margin
B
Net profit
C
Markup
D
Operating expenses
8) Difference between selling price and cost of goods sold.
A
Markdown
B
List price
C
Margin
D
Net profit
9) Price reduction given to channel partners in exchange for additional services.
A
Cash discount
B
Seasonal discount
C
Trade discount
D
Quantity discount
10) Cost to produce a product or buy it for resale.
A
List price
B
Cost of goods sold
C
Full disclosure
D
Markup
*select an answer for all questions
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