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1) When markups are based on the selling price, the selling price is A

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1) When markups are based on the selling price, the selling price is A. the portion.B. 100% + cost percent.  C. cost – markup.D. 100%.

 2. Which one of the following statements is true about the U.S. Rule? A. It's used by only banks.B. It's never used by banks.C. It's hardly used today.  D. It allows borrowers to receive interest credit.