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. Interest is paid twelve times a year






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






3. The unexpected variablility of returns






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






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






6. The original cost of an item






7. Way to measure amount of product shrinkage during cooking/roasting process






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






9. Total fixed costs/ selling price-variable cost






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






11. A decrease in price or value






12. Time worked beyond the established working hours






13. The borrower






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






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






16. Outside numbers in a ratio.






17.






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






19. V = pir2h






20. Interest is paid 365 times a year






21. A bill






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






23. An item of data the stays the same






24. Of one hundred






25. Interest calculated on the principal plus any accumulated interest






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






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






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






29. Costs that fluctuate






30. Number calculated from population data






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






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






33. Tenth - .1






34. Per annum - yearly






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






36. Interest calculated on the principle






37. The person paying to borrow property for a certain amount of time for payments






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






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






40. Used often by business management to analyze the financial position of the business.






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






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






43. 0.01 - 1/100 - hundredth






44. Those which can be directly attributable to the production of a particular product or service and allocated to a particular cost centre.






45. Get temporarily






46. Things you own






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






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






49. V=lwh






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