select the correct answer. which statement defines the term markup? a. the extra amount added to the selling…

select the correct answer. which statement defines the term markup? a. the extra amount added to the selling price to arrive at the cost price b. the extra amount added to the cost price to arrive at the selling price c. the extra amount added to the marginal cost to arrive at the selling price

select the correct answer. which statement defines the term markup? a. the extra amount added to the selling price to arrive at the cost price b. the extra amount added to the cost price to arrive at the selling price c. the extra amount added to the marginal cost to arrive at the selling price

Answer

Brief Explanations:

Markup is the amount by which the cost - price of a product is increased to get the selling price. It is used to cover overheads and make a profit.

Answer:

B. the extra amount added to the cost price to arrive at the selling price