MIDTERM EXAMINATION IN BUSINESS MATH

Name: _________________________________________ Gr. & Level: ________ Date: ___________

Score: __________

Read and understand each item carefully. Choose the letter of the best answer and write it on your
answer sheet.

1. What is this document called?

A. revenue B. target market C. income statement D.

valuation
2. The amount a business earns after deducting what it spends for salaries and other expenses is known
as which of the following? A. profit B. revenue C. interest
D. dividends
3. The difference between for-profit businesses and nonprofit organizations is that ____________.
A. nonprofit organization seek to make a profit for its owners and organizers
B. nonprofit organization do not seek to make a profit for its owners and organizers
C. nonprofit organizations do not file tax returns
D. b and c only
4. The amount of money that businesses take in by selling goods and services is known as
____________.
A. profit B. revenue C. interest D.
dividends
5. Partners who are not known to the public and take no active part in the business are called
____________.
A. secret partners B. silent partners C. ostensible partners D.
dormant partners
6. Which of the following are greater than 5/11? I. ½ II. 65/132 III. 17/33
IV. 40/87
A. I, II, III and IV B. I, II and III C. II and III D. III
and IV
7. The fraction 720/780 is equivalent to which of the following?
A. 5/6 B. ¾ C. 6/7 D.
12/13
8. Write 9 702/6 930 as a mixed number in its simplest form.
A. 7/5 B. 1 2/3 C. 1 2/5 D. 5/3
9. Which two fractions are NOT equivalent?
A. 1/2 and 2/4 B. 4/3 and 8/6 C. 1/5 and 3/15 D. 2/3
and 8/9
10. Order from least to greatest: 8/9, 17/18, 2/3, 7/6.
A. 8/9, 17/18, 2/3, 7/6 B. 2/3, 8/9, 17/18, 7/6 C. 8/9, 2/3, 17/18, 7/6
D. 2/3, 7/6, 8/9, 17/18
11. Tom runs 3/4 of an hour every Monday, 30 minutes every Tuesday, half an hour every Wednesday, 1
1/4 hours every
Thursday and 2/3 of an hour on Friday. How many hours does Tom run from Monday to Friday?
A. 4 hours and 40 minutes B. 3 hours and 30 minutes C. 3 hours and 50 minutes
D. 3 hours and 40 minutes
12. A baseball pitcher won 80% of the games he pitched. If he pitched 35 ballgames, how many games
did he win?
A. 20 B. 24 C. 26 D. 28
13. A woman put Php 29, 000 into a savings account for one year. The rate of interest on the account
was 6½%. How much was the interest for the year in dollars and cents?
A. Php 1000 B. Php 1885 C. Php 40 000 D. Php
188 500
14. There are 32 students in a class. Nine of those students are women. What percent are men?
A. 23% B. 70% C. 71.9 D.
71.9%
15. Alfred buys an old scooter for Php 4700 and spends Php 800 on its repairs. If he sells the scooter for
Php 5800,
his gain percent is ___________.
A. 4 & 4/7% B. 5 & 5/11% C. 10% D. 12%
16. (Selling price - cost price) is called ___________.
A. loss B. marked price C. discount D. profit
17. If Sales Price is 672 and profit is 5%, then cost price should be ___________.
A. 630 B. 649 C. 640 D. 700
18. A trader sold a television for Php 1500. Price should he sell to get a profit of 20% is ___________.
A. 1500 B. 1700 C. 1800 D. 2000
19. (Cost price - selling) price is equal to ___________.
A. discount B. marked price C. profit D. loss
20. Price at which a particular item is purchased by a shopkeeper is known as ___________.
A. cost price B. discount C. selling price D. mp
22. The following shows direct proportion EXCEPT
A. score to rating B. body size & the size of uniform C. fare and distance D.
supply & demand
24. When Mrs. Cruz went to abroad for an educational tour, she noticed that each guide goes along with
three tourists.
If there are 4 guides, how many tourists would they bring around?
A. 10 B. 12 C. 14 D. 16
25. The exchange rate of peso to a dollar in 2019 is ₱50.00 to $1. How much will you get for $6.50?
A. 300 B. 320 C. 325 D. 330
26. Divide 100 into parts 2:3:5.
A. 100, 200, 300 B. 10, 20, 50 C. 12, 13, 15 D. 20,
30, 50
27. Ruby, Rose and Ann are business partners. They agreed to divide their profits in the ratio 1:2:3.
How much should Ruby receive if the total profit is ₱6000?
A. 1000 B. 2000 C. 3000 D. 6000
28. Twenty men can paint a building in 15 days. How many days will it take 30 men to paint the same
building?
 A. 5 B. 7 C. 10 D. 12
29. A roll of electrical tape is costs Php 139.50. If the sales tax rate is 5%, then how much sales tax is
being charge?
A. Php 6.98 B. Php 69.8 C. Php 7.5 D. php
69.75
30. An indirect tax is charged on ___________.
A. Profits B. Gains C. Income D.
Spending
31. Taxes
A. are mandatory payments. C. do not directly relate to the benefit of government
goods and services received.
B. are necessary for financing government expenditures. D. all of the choices
32. Which of the following is/are the nature of the power of taxation?
I. It is an inherent attribute of sovereignty.
II. It is legislative in character.
III. It is regarded as comprehensive, unlimited, plenary and supreme.
A. I only B. I and II only C. I and III only D. II
and III only
33. Mar purchased a gold bracelet for Php 8 960.00. It included a 12% VAT.
How much is the retail prince of the bracelet excluding tax?
A. 1075.2 B. 746.66 C. 8000 D. 960
34. Amy bought a dress marked Php 2, 100.00 and then paid the store clerk a total of Php 2, 173.50.
What was the sales tax rate?
A. 3.4% B. 73.50 C. 3.5% D. 0.35
35. Which of these is NOT a number of workers required for a business partnership?
A. 1 B. 2 C. 3 D. 4
36. What is the money used in starting a business called?
A. Bill B. Rate C. Capital
D. Reward
37. (Total Sale * Sales Tax Rate) is called ___________.
A. Income Tax B. Sales Tax C. Taxation D. all of
the choices
38. Php 72 is 200% of what amount?
A. 20 B. 30 C. 35 D. 36
39. A number, 5 times as many as 20, is ¼ of what number?
A. 200 C. 400 C. 600 D. 800
40. 64 is how many percent of 320?
A. 20% B. 30% C. 35% D. 36%
Choose the correct answer from the given box below.
A. Expenses D. Goods G. Business Math J. Profit
B. Debt E. Business H. Wages
C. Liabilities F. Assets I. Capital
41. A System where goods and services are exchanged for money.
42. Also called commercial math or consumer math with emphasis on computational skills and its
practical
application for business.
43. Finances needed to sustain a business.
44. It is something owed usually money.
45. It refers to products or commodities sold by a business.
46. Financial gain especially the difference in between amount earned and amount spent buying.
47. An accounts and wages payable accured rent and taxes trade debt and short or long term loans.
48. Monetary remuneration computed on a periodic basis including hourly daily a fixed weekly or
monthly wage.
49. It refers to something valuable that an entity owns, benefits from, or has use of, in generating
income.
50. Money spent or cost incurred to generate revenue representing the cost of doing business.