NEW Fashion 5.01 - 5.03 Part B: Question Preview (ID: 22125)

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What is the markup percentage based on retail for an item with a dollar markup of $70.00, cost of $30.00, and a retail price of $100.00?
a) 30%.
b) 70%
c) 100%
d) 333%

The most common type of retail price change is a/an:
a) Employee discount.
b) initial markup
c) markdown
d) markup

Sara was asked to use keystone markup on an item that was priced at $59.99. What will the retail price be once the markup is applied?
a) $59.99
b) $65.99
c) $74.99
d) $119.98

Which is 75% converted from a percent to a decimal?
a) .0075
b) .075
c) .75
d) 7.5

The planned change fund is $200.00. The cash drawer actually contains 50 pennies, 40 nickels, 50 dimes, 120 quarters, 20 one-dollar bills, 5 five- dollar bills, 5 ten-dollar bills, and 4 twenty-dollar bills. The change fund is:
a) Over by $11.50.
b) Short by $11.50
c) Over by $12.50.
d) Short by $12.50.

Coins and currency designated for use in opening the register for a given day’s activity is the:
a) Cash allowance.
b) cash drawer
c) change allowance
d) change fund

Belk ran a coupon in the newspaper for 15% off twin bed sheets regularly priced $48.50. Excluding tax, what would a customer pay if they used a coupon?
a) $7.28
b) $36.38
c) $41.22
d) $43.35

A strategy used to stimulate sales, dispose of slow moving merchandise, meet competitor’s prices, and increase store traffic is:
a) Extension.
b) keystone
c) markdown
d) markup

Which type of markup is the difference between the cost of the merchandise and its final selling price?
a) Extended
b) initial
c) keystone
d) maintained

Last year’s suits are marked down 25%. The dollar amount of the markdown on a suit originally priced $388 is:
a) $79.00
b) $97.00
c) $291.00
d) $485.00

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