Contracts published by third party experts such as trade associations or professional bodies, widely regarded as favouring neither buyer nor seller, are called:
Imagine you discuss profit on an item for sale in your business as a percentage of the selling price. Assume the profit element represents 50% of the selling price. Is mark-up or margin being described here?
Assume you calculate a selling price by adding a profit element onto costs. Assume the profit ele-ment is equivalent to 100% of costs. Is mark-up or margin being described here?