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DSST Business Math Vocab

  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
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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. Both fixed and variable components - Vary with incremental changes in capacity - Display in a stair step pattern

2. Keeping budgeted costs as close as possible to actual costs.

3. Merchandise inventory determined by keeping a continuous record of increases - decreases - and balance on hand

4. Second term in a ratio.

5. Amount of money coming in and going out of your business monthly

6. A way of representing the part of a whole. Percent means 'per hundred' or 'parts out of one hundred.'

7. Direct materials cost plus direct labor cost.

8. Two equivalent ratios joined by an equal sign.

9. Cash + receivables/ current liabilities.

10. The score that falls in the middle

11. Of one hundred

12. Sheet that lists all menu items that are going - to be prepared for a given date

13. Paid dividends after the preference shares have been paid

14. Simple and compound

15. The basic unit of length adopted under the Systeme International d'Unites (approximately 1.094 yards)

16. The number by which a dividend is divided

17. The national average cost of a drug product to a pharmacy; however - in practice this simply 'benchmark' price set by manufacturers.

18. Suggested Retail Price

19. The length of the loan

20. Inside numbers in a ratio.

21. Per day

22. The money paid to an employee based on a percentage of their sales

23. The borrower

24. 3am or 4am when most people are in a deep sleep.

25. The lowest number in a group of data

26. An itemized statement of money owed for goods shipped or services rendered

27. The most frequently occuring value in a group of data

28. Identifies short-term activities to implement strategic plans

29. Systematic recording of all sales achieved during a predetermined time period

30. The number you are multipliying by

31. Interest is paid four times a year

32. Share of the profits of a company

33. One thousand grams - thousand

34. Per annum - yearly

35. The process of repossessing and selling the real or personal property when the borrower has defaulted

36. A loan

37. A decrease in price or value

38. Total fixed costs/ selling price-variable cost

39. A complete set of individuals - objects or scores being studied

40. To not spend

41. Current assets/ current liabilities

42. Multiply cross products to solve (top x bottom = top x bottom)

43. Where info is collected for every unit of the population

44. Property other than real estate (often called a chattel mortgage)

45. A decimal system of weights and measures based on the meter and the kilogram and the second

46. The difference between the highest and lowest numbers in a set of data

47. The unexpected variablility of returns

48. Accounts receivable/ average daily sales

49. Total amount before another amount is added or subtracted

50. The variable of the percentage formula that represents 100% - or the whole thing.