Midterm- Business Math
1. It is the amount by which a manufacturer reduces the retail price of a product when it sells to a
reseller?
a. Trade Discount
b. Net Loss
c. Sale Discount
d. Discount Series
2. It is the total amount of taxes owed by an individual, corporation, or other entity to a taxing
authority?
a. Tax Expense
b. Tax Payable
c. Tax income
d. Income tax
3. It is often called catalog price?
a. Full price
b. List price
c. Invoice price
d. Price
4. It is a relative value indicating hundredth parts of any quantity?
a. Percentage
b. Ratio
c. Rate
d. Fraction
5. It refers to fractions where the numerator is greater than the denominator?
a. Improper factions
b. Proper fractions
c. Improper fractions
d. Mixed fractions
6. The price the retailer must pay after a trade discount is given?
a. Full price
b. List price
c. Invoice price
d. Price
7. It is a listing of all accounts used in the general ledger of an organization.
a. List of accounts
b. Chart of acount
c. Accounting
d. Chart of accounts
8. It is a term for the goods available for sale and raw materials used to produce goods available
for sale?
a. Inventory
b. COGS
c. Cost available for sale
d. Inventory acquisition
9. measures how well a company manages its cash position, meaning how well the company
generates cash to pay its debt obligations and fund its operating expenses.
a. Financial Statement
b. Cash outflow
c. Cash flow statement
d. Cash flow
10. It is the sum of all wages paid to employees, as well as the cost of employee benefits and payroll
taxes paid by an employer?
a. Labor cost
b. Wage
c. Payroll
d. Salary
Word Problem 2 points each
11-12. Convert .45 into a fraction? 9/20
13-14. Convert 16/20 into percentage? 80%
15-16. There are 150 perfume bottles in a box. Each bottle has 3/25 liters of perfume in it. How many
liters do all the bottles have? 18 Liters
17-18. Christine applied for a loan which allows her to pay in 36 equal monthly payments. If she had to
pay a total of ₱19.062.75, then how much would she pay each month? P 529.52
19-20. It takes 9 carpenters to renovate a room in 104 days. how long will it take for 12 carpenters to do
the renovation if they work at the same rate. 79 days
21-22. Consider these transactions:
Oct 1: the Inventory is P 75,000
Oct 2: purchased inventory replenishment P 125,000
Oct 18 : additional inventory was purchased amounting P 88,000
Oct 30: Remaining Inventory is P 20,000
How much is the cost of goods sold? P 268,000
22-23. Consider these transactions:
Oct 1: the Inventory is P 75,000
Oct 2: purchased inventory replenishment P 125,000
Oct 18 : additional inventory was purchased amounting P 88,000
Oct 30: Remaining Inventory is P 20,000
How much is the Cost Available for sale: 288,000
24-25. Perez allocates his monthly salary for bills, food, transportation, and other expenses at the ratio
of 2:3:1:1. If he received ₱56,000 last month, how much did he spend for food?
P 24,000
26-27. For every 2 latte there is 6 cappuccinos. If there is a total of 1144 of cup of coffee, what is the
quantity of latte and cappuccino?
286 cups of latte and 858 cups of cappuccino
28-29. The price of a music player originally sold at ₱3,500 is reduced to ₱2,800. What is the discount
rate? 20%
30-31. How much is the selling price of a double-burner gas stove listed at ₱2,650 if a discount of 15% is
given to the customer? P 2252.5
32-33. An Nike sneaker offers a refrigerator at ₱28,000 with discount of 15% , 10% and 25%. How much
does a Nike sneaker cost? P 16,065
34-35. An Nike sneaker offers a refrigerator at ₱28,000 with discount of 15% , 10% and 25%. What is
single discount rate equivalent. 42.63%
Enumeration:
Four Financial Statements ( 4 out of 4 )
36. Income Statements
37. Balance Sheets
38. Cash Flow Statements
39. statements of shareholders' equity
2 type of cash flow
40. Cash inflow
41. Cash outflow
Example of production cost (3 out of 3)
42. Raw material Expense
43. Labor Cost
44. Freight in and out
3 Type of proportion (3 out of 3)
45. Direct Proportion
46. Indirect Proportion
47. Partitive Proportions
Enumerate Operating expenses (2 out of 4)
48. Payroll
49. Office supplies
or
. Utilities
Or Rent
