## Test your basic knowledge |

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

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

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

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

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

**6. He difference between the regular selling price of an item and its sale price**

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

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

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

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