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PCS Financial Math
Chapter 6 Vocabulary - Cash Purchases
| Term | Definition |
|---|---|
| sales tax | a tax charged by most states on the selling price of a good or service, usually expressed as a percent |
| sales receipt | proof of purchase of a good or service from a store |
| total purchase price | equal to the selling price plus the sales tax |
| unit pricing | system that allows shoppers to compare the prices of various items quickly and easily |
| coupons | discounts offered by businesses in the form of tickets that are redeemed at the time of purchase |
| rebates | discounts offered by businesses in the form of money given back to the customer, usually through the mail |
| markdown | the difference between the regular selling price of an item and its sale price, also called the amount of the discount |
| markdown rate | the discount on an item expressed as a percent of its regular selling price, such as 20 percent off |
| sale price | the regular selling price of an item minus the discount or markdown on the price |
Created by:
Ms.Sala
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