Match the following terms with their definitions.

1. Net income

2. Markdowns

3. Dollar markup

4. Breakeven point

5. Markups

6. Gross profit

7. Percent markup on cost

8. Dollar markdown

9. Contribution margin

10. Cost

11. Percent markup on selling price

12. Perishables

A) Original selling price minus current price

B) Selling price minus cost

C) Price paid to supplier

D) Net sales - cost of goods sold

E) Price reductions

F) Dollar to cost

G) Dollar profit

H) No profit, no loss

I) Cost is base

J) Selling price is base

K) Goods or services with a limited life

L) Difference between selling price and variable cost