Markdowns are frequently used in retailing because of errors in initial pricing or merchandise ...

Markdowns are frequently used in retailing because of errors in initial pricing or merchandise selection.
  Indicate whether the statement is true or false

Q. 2

Reynaldo purchases a scooter costing 112.95. State taxes are 6 and local sales taxes are 2.6. The store charges 25 for assembly. What is the total purchase price? (Round your answer to the nearest cent if necessary)
 A) 162.88
  B) 164.55
  C) 147.66
  D) 122.67

Q. 3

The percent markup based on selling price is always lower than the corresponding percent markup based on cost.
  Indicate whether the statement is true or false

Q. 4

You are the accountant for a corporation whose net income before taxes was 13,741,400. Find the tax liability using the Corporate Tax Rate Schedule, Exhibit 18-6 from your text.
 A) 4,672,076
  B) 4,709,490
  C) 5,388,219
  D) 6,941,677