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. N. items or materials needed for something such as a business - expedition - or vessel






2. Outside numbers in a ratio.






3. Discounts offered to encourage customers to pay their bills on time






4. The process of repossessing and selling the real or personal property when the borrower has defaulted






5. The basic unit of length adopted under the Systeme International d'Unites (approximately 1.094 yards)






6. Amounts of money you owe






7. Parts of a whole number






8. An actual count of merchandise to determine the exact quantity on hand is referred to as a(n) .






9. Money earned on an investment or paid on a loan






10. A way of representing the part of a whole. Percent means 'per hundred' or 'parts out of one hundred.'






11. Total amount before another amount is added or subtracted






12. Money given to someone on condition the person will return the money and interest by a specific date






13. The number you are multipliying by






14. Turning assets into cash.






15. Basic unit of volume in the metric system






16. The number by which a dividend is divided






17. The variable of the percentage formula that represents a part of the base.






18. A written form listing the specific characteristics of a product that is to be purchased from a supplier.






19. Interest calculated on the principal plus any accumulated interest






20. The amount that can actually be eaten - after trimming and cooking






21. The point at which you stop losing money.






22. Cash + receivables/ current liabilities.






23. (simple average) adding the group of items and dividing by the total number of items






24. Simple and compound






25. The total of units multiplied by the price






26. Share of the profits of a company






27. A metric unit of weight equal to one thousandth of a kilogram






28. Scaling factor based on yield






29. 1 ounce or less per guest






30. The lender






31. Special hours of work regulations in several industries exempt or set different standards for certain employees






32. First term in a ratio.






33. A series of discounts






34. The depreciation of an asset as an expense






35. Percentage of the list price.






36. Total annual sales/365






37. A way of expressing a change from an original amount to a new amount without using a percentage sign.






38. The most frequently occuring value in a group of data






39. Direct materials cost plus direct labor cost.






40. Detailed instructions describing the way a particular foodservice operation prepares a particular dish






41. Sheet that lists all menu items that are going - to be prepared for a given date






42. The length of the loan






43. Systematic recording of all sales achieved during a predetermined time period






44. The national average cost of a drug product to a pharmacy; however - in practice this simply 'benchmark' price set by manufacturers.






45. Accounts receivable/ average daily sales






46. The majority of the early payments go toward paying the interest on the loan






47. Interest is paid once a year






48. Real estate (houses - condos - warehouses - factories - etc)






49. Merchandise inventory determined by keeping a continuous record of increases - decreases - and balance on hand






50. An inventory costing method that assigns the most recent costs to ending inventory