Match the following terms with the appropriate statements. A term may be used more than once.

a. cost

b. markdown

c. markup

d. net profit

e. operating expenses

f. selling price

1. _______ Price at which merchandise is sold

2. _______ Amount manufacturer charges for merchandise

3. _______ Difference between cost to retailer and selling price

4. _______ Incurred by a business, such as rent and utilities

5. _______ Reduction from original selling price

6. Selling Price equals ______________ plus ______________.

7. Markup equals ______________ minus ______________.

8. Cost equals ______________ minus ______________.