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BusMath Midterm Test Reviewer

Authored by Ana Rizchel Cordero

Mathematics

11th Grade

Used 2+ times

BusMath Midterm Test Reviewer
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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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