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






2. Second term in a ratio.






3. The number of sales / number of covers






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






5. Interest calculated on the principal plus any accumulated interest






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






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






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






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






10. V = e 3






11. Costs that fluctuate






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






13. Cash + receivables/ current liabilities.






14. First term in a ratio.






15. A number calculated from sample data






16. More than one frequently occuring value in a group of data






17. Inside numbers in a ratio.






18. A written form listing the specific characteristics of a product that is to be purchased from a supplier.






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






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






21. A measure of the number of days needed to collect accounts receivable.






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






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






24. The price after any down-payment or trade-in






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






26. Per day






27. Multiply cross products to solve (top x bottom = top x bottom)






28. The score that falls in the middle






29. Percentage of the list price.






30. V=lwh






31. Interest is paid once a year






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






33. The lowest number in a group of data






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






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






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






37. Something that is expected to return a profit






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






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






40. 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.






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






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






43. Time worked beyond the established working hours






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






45. A statement made about the future






46. Things you own






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






48. 1 ounce or less per guest






49. Two equivalent ratios joined by an equal sign.






50. Simple and compound






Can you answer 50 questions in 15 minutes?



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