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DSST Business Math: Markup Vocab

Instructions:
  • Answer 10 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. He difference between the regular selling price of an item and its sale price






2. Any money left after expenses have been deducted from gross profit - also called net income






3. The amount of money a supplier makes on a product when its sold for more than cost






4. The net profit on an item expressed as a percent of the selling price






5. The actual amount paid for a product - as opposed to its selling price - and which can include expenses such as freight charges and taxes






6. The discount on an item expressed as a percent of its regular selling price - such as 20%






7. What a product actually sells for in the store also called retail price






8. The markup on an item expressed as a percent of its selling price






9. The difference between the cost of a product and the selling price when the selling price is higher






10. The costs of running a business - such as salaries - rent - utilities and taxes. also called overhead