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






2. The amount of money borrowed is less than 75% of the purchase price






3. The first number






4. Liable to perish






5. Scaling factor based on yield






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






7. The lowest number in a group of data






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






9. Commission fee - inflation rate - capital gains tax






10. The amount of money borrowed is between 75% - 95% of the purchase price






11. Interest is paid twelve times a year






12. Accounts receivable/ average daily sales






13. Turning assets into cash.






14. Paid dividends after the preference shares have been paid






15. You may get a large return or get nothing






16. Outside numbers in a ratio.






17. Number calculated from population data






18. The smallest number - other than zero - that can be the denominator for two or more common fractions






19. Adding columns of figures horizontally and vertically to check that the totals agree






20. Allows you to buy merchandise from a supplier and pay at a later - specified date.






21. The money paid to an employee based on a percentage of their sales






22. Two equivalent ratios joined by an equal sign.






23. Shows the money coming in and expenses for a certain period of time.






24. A number calculated from sample data






25. The variable of the percentage formula that represents 100% - or the whole thing.






26. A loan






27. Identifies short-term activities to implement strategic plans






28. When several percentages occur in successions.






29. The point where income and expenses intersect (no loss or profit)






30. Tenth - .1






31. A statement made about the future






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






33. Per annum - yearly






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






35. A cost that does not change - no matter how much of a good is produced






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






37. Per day






38. Of one hundred






39. The amount the property is worth at the end of the lease






40. Percentage of the list price.






41. Where info is collected for every unit of the population






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






43. Interest calculated on the principal plus any accumulated interest






44. Amounts of money you owe






45. Basic unit of volume in the metric system






46. Manages; guides; controls; commands; tells or shows the way






47. Deciding if its worth the risk






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






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






50. Interest is paid 365 times a year