SUBJECTS

BROWSE

CAREER CENTER

POPULAR

JOIN

LOGIN
Business Skills

Soft Skills

Basic Literacy

Certifications
About

Help

Privacy

Terms
Search
Test your basic knowledge 
DSST Business Math: Markup Vocab
Start Test
Study First
Subjects
:
dsst
,
math
,
businessskills
,
businessmath
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 reenforces your understanding as you take the test each time.
1. The difference between the cost of a product and the selling price when the selling price is higher
markup rate
selling price
cost
markup
2. What a product actually sells for in the store also called retail price
net profit
net profit rate
selling price
markup rate
3. The amount of money a supplier makes on a product when its sold for more than cost
net profit rate
gross profit
cost
selling price
4. The actual amount paid for a product  as opposed to its selling price  and which can include expenses such as freight charges and taxes
operating expenses
gross profit
cost
selling price
5. The discount on an item expressed as a percent of its regular selling price  such as 20%
markdown rate
net profit rate
operating expenses
cost
6. The costs of running a business  such as salaries  rent  utilities and taxes. also called overhead
gross profit
markup rate
operating expenses
net profit rate
7. Any money left after expenses have been deducted from gross profit  also called net income
gross profit
net profit
markup rate
markdown rate
8. The net profit on an item expressed as a percent of the selling price
Markdown
net profit
net profit rate
markup
9. He difference between the regular selling price of an item and its sale price
Markdown
markdown rate
gross profit
cost
10. The markup on an item expressed as a percent of its selling price
net profit
Markdown
markdown rate
markup rate