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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. The lowest number in a group of data






2. A series of discounts






3. Used when the each piece of data has more than one component






4. A loan






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






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






7. A decimal figure when x by 2400 gives an approximate annual interest rate






8. Of one hundred






9. Electronic - portable (pocket) - computer - spreadsheets






10. A person who is tricked or swindled






11. The variable of the percentage formula that defines how much or what part the portion is of the base. The rate is the variable with the percent sign.






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






13. Interest is paid twelve times a year






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






15. A rate that one currency can be exchanged for another






16. First term in a ratio.






17. Per annum - yearly






18. Turning assets into cash.






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






20. Something that is expected to return a profit






21. Two equivalent ratios joined by an equal sign.






22. The score that falls in the middle






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






24. A statement made about the future






25. Will not decay or rot






26. The owner of the property






27. Security for a loan






28. Compares two numbers or quantities by using division.






29. Total fixed costs/ selling price-variable cost






30. Time worked beyond the established working hours






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






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






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






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






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






36. When several percentages occur in successions.






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






38. A chart that shows the balance of the mortgage after each amortization period






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






40. A cost that rises or falls depending on how much is produced






41. The length of the loan






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






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






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






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






46. Total annual sales/365






47. The part of a fraction above the line - which tells how many parts are being counted.






48. To take away from the original cost of something






49. A paper that entitles the holder to a discount on a particular item






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