What are trade discounts and how are they used in the business world?
2.      What are cash discounts and how are they used in the business world?
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3.      Which is better in business trade discounts are cash discounts?
4.      How are markups based on cost and selling price determined and used in business?
5.      What are markdowns?
6.      How do you determine the unit selling price of perishable goods?
7.      What is the difference between markups and markdowns?
8.      Explain and define Working capital and net capital?
9.      If a firm has trade discounts available and would need to borrow funds to pursue the discounts, should it do so? Why or why not?
10.  What is “cost-plus” pricing? Why are its advantages and disadvantages?