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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. A loan






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






3. A series of discounts






4. The lender






5. V = 1/3 pir2h






6. Systematic recording of all sales achieved during a predetermined time period






7. Money given to someone on condition the person will return the money and interest by a specific date






8. Commission fee - inflation rate - capital gains tax






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






10. Interest calculated on the principle






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






12. The symbol - % - used to represent percents. For example - 1 percent would be written 1%.






13. Per annum - yearly






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






15. Get temporarily






16. A decrease in price or value






17. Identifies short-term activities to implement strategic plans






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






19. Algebraic - arithmetic






20. Suggested Retail Price






21. A number calculated from sample data






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






23. To take away from the original cost of something






24. The depreciation of an asset as an expense






25. Thousandth






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






27. The number you are dividing by






28. The score that falls in the middle






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






30. A person who is tricked or swindled






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






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






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






34. Paid dividends after the preference shares have been paid






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






36. Total fixed costs/ selling price-variable cost






37. The lowest number in a group of data






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






39. Used when the each piece of data has more than one component






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






41. Interest calculated on the principal plus any accumulated interest






42. Interest is paid twelve times a year






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






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






45. Two equivalent ratios joined by an equal sign.






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






47. Sheet that lists all menu items that are going - to be prepared for a given date






48. Indicators of the confidence investors have in a company (the higher the better)






49. Outside numbers in a ratio.






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