SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
DSST Business Math: Markup Vocab
Start Test
Study First
Subjects
:
dsst
,
math
,
business-skills
,
business-math
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
Markdown
markup rate
markup
net profit rate
2. The net profit on an item expressed as a percent of the selling price
net profit
net profit rate
markdown rate
gross profit
3. The discount on an item expressed as a percent of its regular selling price - such as 20%
markup rate
markdown rate
gross profit
operating expenses
4. Any money left after expenses have been deducted from gross profit - also called net income
markup
selling price
net profit
Markdown
5. What a product actually sells for in the store also called retail price
net profit rate
cost
Markdown
selling price
6. The costs of running a business - such as salaries - rent - utilities and taxes. also called overhead
operating expenses
Markdown
net profit rate
selling price
7. The actual amount paid for a product - as opposed to its selling price - and which can include expenses such as freight charges and taxes
net profit rate
net profit
markup rate
cost
8. The difference between the cost of a product and the selling price when the selling price is higher
Markdown
net profit rate
markup
selling price
9. The amount of money a supplier makes on a product when its sold for more than cost
selling price
net profit rate
gross profit
markup rate
10. The markup on an item expressed as a percent of its selling price
gross profit
markup rate
markup
net profit