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Multiple Choice Direction: Choose the letter of the best answer. Write the chosen letter on a separate sheet of paper. 1. It is computed by dividing the profit to the initial cost of the merchandise a. Margin b. Gross margin c. Mark-up rate d. Mark-up 2. The cost of the merchandise being sold a. Cost of goods sold b. Merchandise inventory c. Purchase d. Net sales 3. It is derived by deducting cost of goods sold to sales a. Gross Margins b. Mark-up c, Mark-on d. Net Sales Page | 10 4. Refers to the purchase price of an article. a. Purchase b. Operating expense c. Cost of goods sold d. Margins 5. Mrs. Racelis, an entrepreneur, purchased 500 bags of cement at P240.00 per bag. If she sold 500 bags at P35,000.00. Compute for the percentage of gross margin. a. 45.71% b. 55.5% c.42.1% d.42.86% 6. Gina bought a kilogram of squid rings at P 535 and she sold it for P650. She also paid the cost of transportation amounts to P 55.00. How much is the gross margin? a. P55.00 b. P65.00 c. P60.00 d. P70.00 7. The furniture originally cost at P 87,985 and is sold for P 109,981.25. How much is the coat of the furniture? a. P109,981.25 b. P1 10,989.50 c. P97, 250.50 d. P87,985.00 8. The unit price of tocino is P85.00 A retail store buys 100 packs with a discount 5%. The retail store owner sold it for P105.00 per pack. If the store sold 75% of the total packs of the tocino, how much is the cost of goods sold. a. P7,875.00 b. P8,455.00 c. P7,265.00 d. 98,125.50 9. A brand-new car cost at P1,500,000.00. The merchandiser sold the car for P1,750,000.00 less the discount given to customer at 10%. Compute for the margin a. P75,000.00 b. P175,000.00 c. P250,000.00 d. P100,000.00 10. A customer got an upright freezer for P34,500.00 which has an original cost of $20,000.00. The cost of transportation and other operating expenses incurred by the retail store appliance is P1,050.00 and P4,800.00. What is the rate of mark-up? a. 70% b. 72.5% c. 65% d. 68.5%