Question 1

Find the net cost. Round to the nearest cent.
-$147.90 less

Accepted Answer

A) $44.37 
B) $77.90 
C) $110.93 
D) $62.12 
A) $44.37 
B) $77.90 
C) $110.93 
D) $62.12 D

Question 2

Compute the extension totals and the invoice total.
-

Accepted Answer

A)    
B)    
C)    
D)    
A)    
B)    
C)    
D)    C

Question 3

Provide an appropriate response.
-Explain in your own words what a complement (with respect to 1 or 100%)is. Using complements, explain how to find the net cost equivalent of a series discount.

Accepted Answer

The complement is a number which when added to a given discount yields 1 or 100%. Explanations will vary.

Question 4

What does the abbreviation stand for?
-sk.

Accepted Answer

A) skate 
B) skinned 
C) sack 
D) scale 
A) skate 
B) skinned 
C) sack 
D) scale

Question 5

Using complements (with respect to 1) of the single discounts, find the net cost equivalent for the following discount.
-

Accepted Answer

A) 0.23205 
B) 0.76795 
C) 0.4 
D) 0.6 
A) 0.23205 
B) 0.76795 
C) 0.4 
D) 0.6

Question 6

Solve the problem. Round to the nearest cent.
-The list price of a car is $6,790. It is available at either a   or a   discount. Which discount gives the lower price? By how much?

Accepted Answer

A)    
B)    
C)    
D)    
A)    
B)    
C)    
D)

Question 7

Find the net cost equivalent and the percent form of the single discount equivalent for the following series discount.
-

Accepted Answer

A) 0.6; 40% 
B) 0.4; 60% 
C) 0.51; 49% 
D) 0.49; 51% 
A) 0.6; 40% 
B) 0.4; 60% 
C) 0.51; 49% 
D) 0.49; 51%

Question 8

Find the list price. Round to the nearest cent.
-Net cost $197; trade discount

Accepted Answer

A) $985.00 
B) $39.40 
C) $518.08 
D) $74.91 
A) $985.00 
B) $39.40 
C) $518.08 
D) $74.91

Question 9

What does the abbreviation stand for?
-FAS

Accepted Answer

A) freight as shipped 
B) freight alongside ship 
C) free alongside ship 
D) free as shipped 
A) freight as shipped 
B) freight alongside ship 
C) free alongside ship 
D) free as shipped

Question 10

Find the discount date and net payment date. (The net payment date is 20 days after the final discount date.)
-Invoice date: Sep 10 Terms:   EOM

Accepted Answer

A) Discount date: Sept 9; net payment date: Oct 31 
B) Discount date: Sept 19; net payment date: Oct 9 
C) Discount date: Oct 9; net payment date: Oct 29 
D) Discount date: Sept 19; net payment date: Oct 30 
A) Discount date: Sept 9; net payment date: Oct 31 
B) Discount date: Sept 19; net payment date: Oct 9 
C) Discount date: Oct 9; net payment date: Oct 29 
D) Discount date: Sept 19; net payment date: Oct 30

Question 11

Provide an appropriate response.
-Explain the difference between a single trade discount and a series trade discounts. Give an example of each.

Accepted Answer

A single trade discount is a discount of

Question 12

Find the final discount date and the net payment date.
-Invoice date: Nov 20
As of: Nov 27
Terms:

Accepted Answer

A) Final discount: Dec 5
Payment due: Dec 20 
B) Final discount: Dec 27
Payment due: Dec 12 
C) Final discount: Dec 12
Payment due: Dec 27 
D) Final discount: Dec 13
Payment due: Dec 27 
A) Final discount: Dec 5
Payment due: Dec 20 
B) Final discount: Dec 27
Payment due: Dec 12 
C) Final discount: Dec 12
Payment due: Dec 27 
D) Final discount: Dec 13
Payment due: Dec 27

Question 13

Provide an appropriate response.
-Which is the better series discount,   or   ? Explain.

Accepted Answer

The better discount

Question 14

Solve the problem.
-Lotoff's Fashion Corner received a new line of paisley ties that had a net cost of $29 each. If they were given a series discount of   , find the list price.

Accepted Answer

A) $8.70 
B) $96.67 
C) $12.25 
D) $68.64 
A) $8.70 
B) $96.67 
C) $12.25 
D) $68.64

Question 15

Solve the problem.
-An invoice received from Midtown Office Supply Distributors is dated Mar 4 with terms of 2/10 prox. Find the final date on which the cash discount may be taken and the net payment date.

Accepted Answer

A) Final discount date: Mar 14; net payment date: Apr 3 
B) Final discount date: Apr 10; net payment date: May 1 
C) Final discount date: Apr 10; net payment date: Apr 30 
D) Final discount date: Mar 14; net payment date: Mar 31 
A) Final discount date: Mar 14; net payment date: Apr 3 
B) Final discount date: Apr 10; net payment date: May 1 
C) Final discount date: Apr 10; net payment date: Apr 30 
D) Final discount date: Mar 14; net payment date: Mar 31

Question 16

Solve for the amount of discount and amount due.
-Invoice amt: $570
Invoice date: Oct 9
Terms:  
Date paid: Oct 24

Accepted Answer

A) Amount of discount: $0; amount due: $570 
B) Amount of discount: $17.10; amount due: $552.90 
C) Amount of discount: $28.50; amount due: $541.50 
D) Amount of discount: $57.00; amount due: $513.00 
A) Amount of discount: $0; amount due: $570 
B) Amount of discount: $17.10; amount due: $552.90 
C) Amount of discount: $28.50; amount due: $541.50 
D) Amount of discount: $57.00; amount due: $513.00

Question 17

Find the list price. Round to the nearest cent.
-Net cost $1,523; trade discount

Accepted Answer

A) $2,175.71 
B) $2,115.28 
C) $1,066.10 
D) $1,096.56 
A) $2,175.71 
B) $2,115.28 
C) $1,066.10 
D) $1,096.56

Question 18

What does the abbreviation stand for?
-cpm.

Accepted Answer

A) cost per mile 
B) cash post mortem 
C) cost per hundred 
D) cost per thousand 
A) cost per mile 
B) cash post mortem 
C) cost per hundred 
D) cost per thousand

Question 19

Using complements (with respect to 1) of the single discounts, find the net cost equivalent for the following discount.
-

Accepted Answer

A) 0.65 
B) 0.35 
C) 0.478125 
D) 0.521875 
A) 0.65 
B) 0.35 
C) 0.478125 
D) 0.521875

Question 20

Find the net cost. Round to the nearest cent.
-$872 less

Accepted Answer

A) $436.00 
B) $395.54 
C) $261.60 
D) $802.00 
A) $436.00 
B) $395.54 
C) $261.60 
D) $802.00

Find the net cost. Round to the nearest cent. -$147.90 less

Compute the extension totals and the invoice total. -

Provide an appropriate response. -Explain in your own words what a complement (with respect to 1 or 100%)is. Using complements, explain how to find the net cost equivalent of a series discount.

What does the abbreviation stand for? -sk.

Using complements (with respect to 1) of the single discounts, find the net cost equivalent for the following discount. -

Solve the problem. Round to the nearest cent. -The list price of a car is $6,790. It is available at either a or a discount. Which discount gives the lower price? By how much?

Find the net cost equivalent and the percent form of the single discount equivalent for the following series discount. -

Find the list price. Round to the nearest cent. -Net cost $197; trade discount

What does the abbreviation stand for? -FAS

Find the discount date and net payment date. (The net payment date is 20 days after the final discount date.) -Invoice date: Sep 10 Terms: EOM

Provide an appropriate response. -Explain the difference between a single trade discount and a series trade discounts. Give an example of each.

Find the final discount date and the net payment date. -Invoice date: Nov 20 As of: Nov 27 Terms:

Provide an appropriate response. -Which is the better series discount, or ? Explain.

Solve the problem. -Lotoff's Fashion Corner received a new line of paisley ties that had a net cost of $29 each. If they were given a series discount of , find the list price.

Solve the problem. -An invoice received from Midtown Office Supply Distributors is dated Mar 4 with terms of 2/10 prox. Find the final date on which the cash discount may be taken and the net payment date.

Solve for the amount of discount and amount due. -Invoice amt: $570 Invoice date: Oct 9 Terms: Date paid: Oct 24

Find the list price. Round to the nearest cent. -Net cost $1,523; trade discount

What does the abbreviation stand for? -cpm.

Using complements (with respect to 1) of the single discounts, find the net cost equivalent for the following discount. -

Find the net cost. Round to the nearest cent. -$872 less

Whole Numbers and Decimals

Fractions

Percents

Equations and Formulas

Bank Services

Payroll

Mathematics of Selling

Simple Interest

Compound Interest and Inflation

Annuities, Stocks, and Bonds

Business and Consumer Loans

Taxes and Insurance

Depreciation

Financial Statements and Ratios

Budgeting and Business Statistics

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Exam 7: Mathematics of Buying

Find the net cost. Round to the nearest cent. -$147.90 less

Compute the extension totals and the invoice total. -

Provide an appropriate response. -Explain in your own words what a complement (with respect to 1 or 100%)is. Using complements, explain how to find the net cost equivalent of a series discount.

What does the abbreviation stand for? -sk.

Using complements (with respect to 1) of the single discounts, find the net cost equivalent for the following discount. -

Solve the problem. Round to the nearest cent. -The list price of a car is $6,790. It is available at either a or a discount. Which discount gives the lower price? By how much?

Find the net cost equivalent and the percent form of the single discount equivalent for the following series discount. -

Find the list price. Round to the nearest cent. -Net cost $197; trade discount

What does the abbreviation stand for? -FAS

Find the discount date and net payment date. (The net payment date is 20 days after the final discount date.) -Invoice date: Sep 10 Terms: EOM

Provide an appropriate response. -Explain the difference between a single trade discount and a series trade discounts. Give an example of each.

Find the final discount date and the net payment date. -Invoice date: Nov 20 As of: Nov 27 Terms:

Provide an appropriate response. -Which is the better series discount, or ? Explain.

Solve the problem. -Lotoff's Fashion Corner received a new line of paisley ties that had a net cost of $29 each. If they were given a series discount of , find the list price.

Solve the problem. -An invoice received from Midtown Office Supply Distributors is dated Mar 4 with terms of 2/10 prox. Find the final date on which the cash discount may be taken and the net payment date.

Solve for the amount of discount and amount due. -Invoice amt: $570 Invoice date: Oct 9 Terms: Date paid: Oct 24

Find the list price. Round to the nearest cent. -Net cost $1,523; trade discount

What does the abbreviation stand for? -cpm.

Using complements (with respect to 1) of the single discounts, find the net cost equivalent for the following discount. -

Find the net cost. Round to the nearest cent. -$872 less

Whole Numbers and Decimals

Fractions

Percents

Equations and Formulas

Bank Services

Payroll

Mathematics of Selling

Simple Interest

Compound Interest and Inflation

Annuities, Stocks, and Bonds

Business and Consumer Loans

Taxes and Insurance

Depreciation

Financial Statements and Ratios

Budgeting and Business Statistics

Filters