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DSST Business Math

Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. A^m/a^n = a^(m-n)






2. ($ Retail x 100 / COST) - 100






3. Loss of items due to damaged goods - stealing - etc.






4. current assets/ current liabilities






5. Convert .36 to a percent






6. Gross margin dollars/Net sales dollars (multiply by 100 to express as percentage) or (Selling price - cost) x 100 / Selling price






7. S=X(1+r1)^y(1+r






8. Another name for the P & L statement mainly used by managers planning sales or accountants formulating analyses






9. accounts receivable/ average daily sales






10. Convert 65% to a decimal






11. BOM $ Stock/ Sales for period






12. A/b






13. The average person will have _ jobs in their lifetime.






14. The cost of moving from the vendor's warehouse (loading dock) to the retail warehouse or store (loading dock) - may also include insurance to cover the merchandise while in transit






15. Convert 1.25 to a percent






16. Shortage$ = book$ - physical count$; shortage% = shortage$/NS$






17. Another way of counting part of a whole?






18. Advertising - bad debt expense - conributions and donations - depreciation - educational expense - insurance - interest expense - licenses - office supplies - postage - rent - repairs - salaries and wages - supplies - taxes - travel and transportatio






19. An electronics store is having a 40 percent off sale. Robert has been saving to purchase a stereo system that was originally priced at $420. If Robert purchases the system during the sale - what will be the cost?






20. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






21. Use compliments - Step 1 Find compliments 25% = 100-25%= 75% - 10%= 90% - 10%=90% Step 2 Multiple Compliments 75%x90%x90% .75x.90x.90= .6075 Step 3 Convert to Percentage .6075= 60.75% Step 4 Compliment it 100%-60.75%= 39.35%






22. Divide the result by 1+the increase proportion eg) X=16/(1+0.25) = 12.8 - 16 is a 25% increase over 12.8






23. Gross Margin/ Average Inventory Cost






24. cost of an item expressed per unit of measure or count.






25. What happens when your expenses - etc. are higher than your sales






26. Divide the result by 1-the decrease proportion - eg) X=16/(1-0.25)=21.33 - 16 is a 25% decrease of 21.33






27. IRR=1 + [(NPV1/NPV1-NPV2)(2-1)]% Where: 1=one interest rate 2=the other NPV1=the NPV at rate 1 NPV2=the NPV at rate 2 (NPV = Net Present Value)






28. Amount decrease (Original - New) / Original amount = decimal= convert to %






29. Convert 70% to a decimal






30. Assets - cost of goods sold - expenses






31. $ Markdown/ $ Net Sales (multiply result by 100 to express as percentage)






32. $ RETAIL X (100 - GM %) / 100






33. Alignment of the decimals is not important






34. (TY-LY)/ LY or (Plan-Actual)/






35. The value of the inventory as kept in the handwritten ledgers or computer system; formula: book$ = merchandise available$ - NS$ - (MD$ + ED$)






36. What does percent mean?






37. Convert 41/100 to a percent






38. % of 90 days same as cash convert to payments.






39. $ Cost/ (100%-markup%)






40. End of month; dating starts with the end of the month and the invoice is to be paid within the specified number of days after the end of the month in which goods are invoiced; ex: 8/10 EOM - n/90






41. Convert 56% to a decimal






42. Liabilities - capital - income






43. Rose borrowed money to buy a ring priced at $420. When she repaid the loan at the end of 3 months - the interest charge was $31.50. What was the rate of interest?






44. When slaes plans are overestimated and the stock purchases result in a stockpiled inventory






45. Direct labor - factory overhead - merchandise inventory - packaging - raw material






46. Units Sold/ (Units Sold + On Hand Inventory)






47. Overage$ = book$ - physical count$; overage% = overage$/NS$






48. Convert 14% to a fraction






49. $ Cost x (100 + Mark-up %) / 100






50. Net Sales for period/ Avg Stock for period