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. What a product actually sells for in the store also called retail price
net profit rate
selling price
gross profit
markup
2. Any money left after expenses have been deducted from gross profit - also called net income
operating expenses
net profit
selling price
cost
3. The costs of running a business - such as salaries - rent - utilities and taxes. also called overhead
net profit
net profit rate
operating expenses
cost
4. He difference between the regular selling price of an item and its sale price
selling price
gross profit
markup rate
Markdown
5. The markup on an item expressed as a percent of its selling price
net profit
selling price
net profit rate
markup rate
6. The net profit on an item expressed as a percent of the selling price
selling price
net profit rate
cost
net profit
7. The difference between the cost of a product and the selling price when the selling price is higher
net profit
Markdown
markup
cost
8. The discount on an item expressed as a percent of its regular selling price - such as 20%
net profit
markdown rate
gross profit
markup
9. The amount of money a supplier makes on a product when its sold for more than cost
selling price
markdown rate
markup
gross profit
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
net profit rate
Markdown
cost
markdown rate