Profit that is expressed as a percentage of the cost of goods sold is referred to as
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Correct Answer: Option B
Explanation:
Mark-up is the profit expressed as a percentage of the cost of goods sold or the cost price. It shows the amount added to the cost of a product to arrive at its selling price.
Mark-up is the profit expressed as a percentage of the cost of goods sold or the cost price. It shows the amount added to the cost of a product to arrive at its selling price.