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Sales Tax, Discount, & Mark Up, Tip, Fee, Commission, Rebates, & Coupons Vocabulary

Terms in this set (15)

What does the cashier give you that is itemized?
Receipt
What is a subtotoal?
Add all your items before a tax
What is a discount?
An amount that is subtracted from the regular price.
What is a sales tax?
A tax on goods and services that is added to the cost. $ for the govt
What is a sale price?
The new price after the discount is subtracted.
What is a mark-up or increase?
The increase in price when a store sells to the consumer.
What is wholesale?
Where stores buy items to sell
What is retail?
The price after a store marks up their merchandise
Profit
The money a store earns to stay in business
Tip/Gratuity
Amount of money added to the cost of a service, given to a waiter or waitress
Fee
Percentage rate charged for a service
Commission
Amount of money paid to a salesperson based on how much they sell
Wages
Money made per hour, day, or year.
Coupon
Voucher for money off the cost
Rebate
Partial refund or money back on the cost
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