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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. Paid in full






3. Non-payment






4. V = 1/3 pir2h






5. Turning assets into cash.






6. Property other than real estate (often called a chattel mortgage)






7. Provide a specific dividend that is paid before any dividends are paid to common stock holders






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






9. An item of data the stays the same






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






11. Get temporarily






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






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






14. Cost associated with fixed expenses such as rent - debt service and administration.






15. Costs that remain constant






16. Scaling factor based on yield






17. The number you are multipliying by






18. Security for a loan






19. Compares two numbers or quantities by using division.






20. A statement made about the future






21. The highest number in a group of data






22. 1 ounce or less per guest






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






24. Inside numbers in a ratio.






25. Money charged by the government and added to the original price of an item






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






27. The borrower






28. 0.01 - 1/100 - hundredth






29. A series of discounts






30. When an item is discounted or less than the original price






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






32. A portion of the population being studied






33. A percentage discount to customers






34. V=lwh






35. Total amount before another amount is added or subtracted






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






37. Interest calculated on the principal plus any accumulated interest






38. The number by which a dividend is divided






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






40. When two ratios are equal






41. Cash or assets that can quickly be converted into cash.






42. Number calculated from population data






43. Interest is paid 365 times a year






44. Something that is expected to return a profit






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






46. Part ownership in a company






47. Interest is paid twelve times a year






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






49. An itemized statement of money owed for goods shipped or services rendered






50. Per annum - yearly