## Test your basic knowledge |

# DSST Business Math Vocab

**Instructions:**

- Answer 50 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. 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.**