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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. A contract giving someone the right to use something for a certain length of time






2. Number calculated from population data






3. Basic unit of volume in the metric system






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






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






6. A series of discounts






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






8. Costs that remain constant






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






10. To take away from the original cost of something






11. Be sufficient to meet - defray - or offset the charge or cost of






12. The lender






13. A chart showing the lines of responsibility between departments of a large organization






14. The new percent obtained by subtracting the change percent from 100%.






15. The highest number in a group of data






16. Costs that fluctuate






17. Percentage of the list price.






18. A measure of how many times the value of the inventory is sold in one year.






19. A number calculated from sample data






20. The ratio of the number of workers that had to be replaced in a given time period to the average number of workers






21. Shows the assets - liabilities and financial position of the company






22. A statement made about the future






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






24. Total fixed costs/ selling price-variable cost






25. The number to be divided by






26. The info collected from a survey and the figures generated through statistical analysis






27. When several percentages occur in successions.






28. When two ratios are equal






29. A decimal system of weights and measures based on the meter and the kilogram and the second






30. The number of sales / number of covers






31. Factor by which a quantity that is expressed in one set of units must be multiplied in order to convert it into another set of units






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






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






34. Amount of money coming in and going out of your business monthly






35. Keeping budgeted costs as close as possible to actual costs.






36. You may get a large return or get nothing






37. The edible-portion (EP) quantity of a food item divided by the as-purchased (AP) quantity expressed as a percentage.






38. Time worked beyond the established working hours






39. Preference and common






40. Deciding if its worth the risk






41. Paid in full






42. The property of having material worth (often indicated by the amount of money something would bring if sold)






43. The borrower






44. The price paid after the trade discount has been subtracted.






45. Total annual sales/365






46. Cost of the an item/# of portions it contains.






47. A decrease in price or value






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






49. Parts of a whole number






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