BusMath Midterm Test Reviewer
Authored by Ana Rizchel Cordero
Mathematics
11th Grade
Used 3+ times
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35 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
It is the amount of money that is added to the original cost of an item to arrive at a selling price.
Gross Margin
Markdown
Markup
Single Trade Discount
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
It is a list price reductions that a business may offer to its business customers.
Gross Margin
Markdown
Markup
Single Trade Discount
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
It is a fee that a business pays to a salesperson (agent) in exchange for his services in either facilitating, supervising, or completing a sale.
Commission
Time Value of Money
Discount Series
Simple Interest
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The fact that money received today is worth more than money received next year or the year after.
Commission
Time Value of Money
Discount Series
Markup
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
It is the price at which the item is actually sold.
Markup Rate
Original Cost
Selling Price
Discount Price
6.
FILL IN THE BLANK QUESTION
45 sec • 1 pt
Two ways of calculating Trade Discounts: _____ and _____
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
The following are the types of commission except:
Salary Plus Commission
Graduated Commission
Straight Commission
Compounded Commission
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