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






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






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






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






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






6. A decimal system of weights and measures based on the meter and the kilogram and the second






7. Interest calculated on the principal plus any accumulated interest






8. The number you are multipliying by






9. Security for a loan






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






11. Turning assets into cash.






12. Investing in a well-established company






13. Total fixed costs/ selling price-variable cost






14. The unexpected variablility of returns






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






16. You may get a large return or get nothing






17. Percentage of the list price.






18. The difference between the highest and lowest numbers in a set of data






19. Accounts receivable/ average daily sales






20. Paid dividends after the preference shares have been paid






21. The lender






22. The new percent obtained by subtracting the change percent from 100%.






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






24. V = 1/3 pir2h






25. Number calculated from population data






26. To take away from the original cost of something






27. A way of representing the part of a whole. Percent means 'per hundred' or 'parts out of one hundred.'






28. The most frequently occuring value in a group of data






29. Be sufficient to meet - defray - or offset the charge or cost of






30. The number by which a dividend is divided






31. Parts of a whole number






32.






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






34. Scaling factor based on yield






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






36. The price paid after the trade discount has been subtracted.






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






38. Loans to companies or goverments (no voting rights)






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






40. End of month.






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






42. Two equivalent ratios joined by an equal sign.






43. Tenth - .1






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






45. 1 ounce or less per guest






46. Cash + receivables/ current liabilities.






47. 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.






48. Share of the profits of a company






49. A percentage discount to customers






50. The first number