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