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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
Markdown
B
Selling price
C
Cash discount
D
Markup
2) Reduction in price given for paying by a certain date.
A
Seasonal discount
B
Markdown
C
List price
D
Cash discount
3) Advertising that violates the law.
A
Corrective advertising
B
Full disclosure
C
False advertising
D
Turnover
4) Difference between selling price and all costs and expenses.
A
Markup
B
Net profit
C
List price
D
Margin
5) Advertising designed to change a false impression left by earlier misleading information.
A
Advertising
B
False advertising
C
Corrective advertising
D
Full disclosure
6) Providing all information that allows consumers to make an informed buying decision.
A
Turnover
B
Full disclosure
C
Corrective advertising
D
Advertising
7) Amount added to the cost of goods sold to calculate a selling price.
A
Net profit
B
Margin
C
Markup
D
Operating expenses
8) Difference between selling price and cost of goods sold.
A
Net profit
B
List price
C
Markdown
D
Margin
9) Price reduction given to channel partners in exchange for additional services.
A
Trade discount
B
Quantity discount
C
Cash discount
D
Seasonal discount
10) Cost to produce a product or buy it for resale.
A
Markup
B
List price
C
Cost of goods sold
D
Full disclosure
*select an answer for all questions
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