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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. You may get a large return or get nothing






2. The total of units multiplied by the price






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






4. Interest calculated on the principal plus any accumulated interest






5. The number of sales / number of covers






6. The first number






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






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






9. Cash + receivables/ current liabilities.






10. Algebraic - arithmetic






11. A loan






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






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






14. Something that is expected to return a profit






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






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






17. Identifies short-term activities to implement strategic plans






18. The divisor of a fraction






19. The variable of the percentage formula that represents a part of the base.






20. Share of the profits of a company






21. 0.01 - 1/100 - hundredth






22. Interest is paid 365 times a year






23. Time worked beyond the established working hours






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






25. A person who is tricked or swindled






26. A percentage discount for buyers associated with the products being sold






27. A portion of the population being studied






28. Paid in full






29. Current assets/ current liabilities






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






31. Get temporarily






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






33. A decrease in price or value






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






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






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






37. The lender






38. The interest amount is small - but you are guaranteed to get something






39. Investing in a well-established company






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






41. Non-payment






42. The unexpected variablility of returns






43. Part ownership in a company






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






45. Inside numbers in a ratio.






46. Two equivalent ratios joined by an equal sign.






47. The process of repossessing and selling the real or personal property when the borrower has defaulted






48. A bill






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






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