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Questions and Answers
Which of the following best describes mark up?
Which of the following best describes mark up?
- The gross profit made by a funeral home
- The ratio of the wholesale cost to the total of merchandise and service
- The difference between the retail price and the wholesale cost of a product (correct)
- The percentage derived from the wholesale cost divided by the retail price
What is the consumer value index (CVI)?
What is the consumer value index (CVI)?
- The percentage derived from the wholesale cost divided by the retail price (correct)
- The difference between the retail price and the wholesale cost of a product
- The gross profit made by a funeral home
- The ratio of the wholesale cost to the total of merchandise and service
What does the merchandise value ratio represent?
What does the merchandise value ratio represent?
- The ratio of the wholesale cost to the total of merchandise and service (correct)
- The gross profit made by a funeral home
- The percentage derived from the wholesale cost divided by the retail price
- The difference between the retail price and the wholesale cost of a product
What does the gross casket margin represent?
What does the gross casket margin represent?
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What is the typical range of markups for funeral homes?
What is the typical range of markups for funeral homes?
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