Which statement is true about selling price?

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Study for the 6th Grade Financial Literacy Test. Explore interactive quizzes and multiple-choice questions with insightful explanations. Prepare effectively today!

Multiple Choice

Which statement is true about selling price?

Explanation:
Selling price is the amount charged for an item when it is sold. This is the price the buyer pays to purchase the item, and it may include tax depending on how it’s shown at checkout. It isn’t the money the seller keeps after paying costs (that would be profit), and it isn’t the buyer’s profit. So the true description is the amount a buyer pays to purchase an item.

Selling price is the amount charged for an item when it is sold. This is the price the buyer pays to purchase the item, and it may include tax depending on how it’s shown at checkout. It isn’t the money the seller keeps after paying costs (that would be profit), and it isn’t the buyer’s profit. So the true description is the amount a buyer pays to purchase an item.

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