1.The rate in the portion formula is equal to:

	a.	Base portion.
	b.	None of these.
	c.	Portion divided by rate.
	d.	Portion divided by base.
	e.	Base portion divided by 2.

2.An equation is:

	a.	A math unknown
	b.	A math expression of inequality
	c.	A math expression of constants
	d.	None of these
	e.	A math expression of equality

3.The decision-making process does not involve:

	a.	Evaluating the end result
	b.	Deciding on the worst method to solve it
	c.	Seeing if the solution makes sense
	d.	Stating the problem
	e.	Deciding on the best method to solve it

4.Which one of the following statements is incorrect?

	a.	The Truth in Lending Act regulates interest charges
	b.	APR represents the true effective rate annual rate of interest
	c.	APR is the true effective annual interest charged by sellers
	d.	The Truth in Lending Act was passed in 1969
	e.	None of these

5.Which of the following is not a current asset?

	a.	Prepaid expense
	b.	Cash
	c.	None of these
	d.	Building
	e.	Accounts receivable

6.Markup is:

	a.	Selling price - cost
	b.	Selling price divided by cost
	c.	Selling price + cost
	d.	None of these
	e.	Selling price × (1 + cost)

7.

1. Social Security and Medicare tax:

   	a.	None of these
   	b.	Are paid by only the employer
   	c.	Have different rates
   	d.	Are paid only by employees
   	e.	Are based on the number of dependents not claimed

Which of the following results in crediting the checkbook balance?

	a.	None of these
	b.	NSF
	c.	Interest earned
	d.	Overdraft protection charge
	e.	Service charge

To convert a percent to a fraction, which of the following is not done?

	a.	Drop percent symbol.
	b.	Divide by 1/100.
	c.	Multiply by 1/100.
	d.	Reduce to lowest terms.
	e.	None of these.