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






2. 0.01 - 1/100 - hundredth






3. The highest number in a group of data






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






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






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






7. The length of the loan






8. Something that is expected to return a profit






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






10. Inside numbers in a ratio.






11. Commission fee - inflation rate - capital gains tax






12. Suggested Retail Price






13. The lender






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






15. The number of sales / number of covers






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






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






18. Amounts of money you owe






19. A number calculated from sample data






20. Second term in a ratio.






21. One thousand grams - thousand






22. First term in a ratio.






23. Seizing property that belongs to someone else and holding it until profits pay the demand for which it was seized






24. Interest is paid 365 times a year






25. An actual count of merchandise to determine the exact quantity on hand is referred to as a(n) .






26. When two ratios are equal






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






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






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






30. # of servings of an item / total number of servings of all items in that category each day






31. Turning assets into cash.






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






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






34. The depreciation of an asset as an expense






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






36. Direct materials cost plus direct labor cost.






37. The score that falls in the middle






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






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






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






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






42. The number you are dividing by






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






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






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






46. The total of units multiplied by the price






47. Cash + receivables/ current liabilities.






48. Non-payment






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






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