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11 Questions

1 Views

Markup Mastery

Created by

@RicherPeace

Podcast Beta

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Questions and Answers

What is markup?

The total revenue generated by a business

The cost of goods sold

The profit per item in business or retail (correct)

The amount of money spent on advertising

What tool should be used to level small amounts of salt, pepper, leavening agents, or solid fats?

A straight edge (correct)

A scale

A balance scale

A liquid measuring cup

When measuring solid fats, which of the following is the most accurate method?

Using a kitchen scale (correct)

Measuring with a liquid measuring cup

Measuring with a dry measuring cup

Eyeballing the amount

Which measuring tool should be used for liquid ingredients?

A liquid measuring cup Signup and view all the answers

How is peso markup calculated?

By subtracting buying price from selling price Signup and view all the answers

Which of the following is the most appropriate method for measuring small amounts of liquid ingredients?

Using measuring spoons Signup and view all the answers

How many methods are there to calculate percentage markup?

Two Signup and view all the answers

What should be done before using timers/thermometers, scales, and other measuring devices?

Check and calibrate them Signup and view all the answers

Which of the following statements is true about measuring cups and spoons?

They measure volume, not weight Signup and view all the answers

Which method should be used to calculate percentage markup consistently?

Both cost and selling price Signup and view all the answers

Which method gives a lower percentage markup?

Selling price Signup and view all the answers

Study Notes

Markup is the profit per item in business or retail.
Peso markup is calculated by subtracting buying price from selling price.
Percentage markup can be calculated based on cost or selling price.
Choose one method and stick to it for consistent results.
To calculate percentage markup based on cost, divide peso markup by cost.
To calculate percentage markup based on selling price, divide peso markup by selling price.
Using selling price gives a lower percentage markup, while using cost gives a higher percentage markup.
Cost, selling price, and peso markup will always be the same.
Percentage markup will vary depending on the method used.
Calculating markup is an important skill for anyone working in business or retail.

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Description

Are you familiar with markup calculations in business and retail? Test your knowledge and learn new tips and tricks with this quiz! From understanding the difference between peso and percentage markup to choosing the right method for consistent results, this quiz covers all the basics. Sharpen your skills and become a markup pro with this informative and engaging quiz. Keywords: markup, profit, business, retail, calculations, percentage, peso, cost, selling price.