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DSST Business Math
Start Test
Study First
Subjects
:
dsst
,
math
,
business-skills
,
business-math
,
bvat
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. Accounts receivable - buildings - cash - copyrights - equiptment - furniture and fixtures - land - tomor vehicles
types of assets
types of expenses
percent decrease
The sum of a Geometric Progression
2. Multiply the number by 1+the increase proportion - e.g. 16(1+0.25) = 161.25 = 20 - 20 is a 25% increase over 16
To increase a number by a given percentage - e.g. increase 16 by 25%
Adding Fractions
1.304
profit and loss statement
3. You should never take out more than a _ year mortgage.
COD
stock turn
types of incomes
15
4. 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
netprice with a 25/10/10 series discount
types of expenses
2.5% per month
cost of goods
5. Cash or assets that can quickly be converted into cash.
increase=credit
Current Assets
improper
EOM (in terms of invoice)
6. Convert 70% to a decimal
125%
.7
types of incomes
.65
7. Convert 20 to a percent
shortage
netprice with a 25/10/10 series discount
20%
Of what number 16 is a 25% increase
8. A/b
Compound interest formula with changing rates
62%
90.9%
Dividing Fractions
9. Shortage$ = book$ - physical count$; shortage% = shortage$/NS$
shortage
Liquidity of Assets
70%
Dividing Fractions
10. total fixed costs/ selling price-variable cost
To increase a number by a given percentage - e.g. increase 16 by 25%
Dividing Fractions
Sell Thru %
Break Even Point Formula
11. $ Cost/ (100%-markup%)
$ Retail
increase=credit
378 63
Gross margin dollars
12. The recommended house payment should be no more than _% of your monthly take-home pay.
.65
25
$ Retail
Margin %
13. A/b - c/b = a-c/b
loss
Subtracting Fractions
$2 -127.66
Markdown %
14. Date of invoice - the cash discount terms will have no dating within the discount statement; ex: 4/10 - n/30
Sell Thru %
types of incomes
DOI
Markdown %
15. Gross margin dollars/Net sales dollars (multiply by 100 to express as percentage) or (Selling price - cost) x 100 / Selling price
$2 -127.66
income statement
COD
Gross margin %
16. current assets/ current liabilities
36%
Current Ratio
To increase a number by a given percentage - e.g. increase 16 by 25%
stock turn
17. Planned Sales + Planned Markdowns + Planned EOM - Planned BOM
20%
$6 -655.50
OTB (retail)
378 63
18. The average person will have _ jobs in their lifetime.
$6 -655.50
netprice with a 25/10/10 series discount
types of liabilities
16-18
19. Commissions - fees for service - merchandise sales - rental income - royalties
gross margin
types of incomes
To decrease a number by a given percentage - e.g. decrease 16 by 25%
physical inventory
20. Loss of items due to damaged goods - stealing - etc.
Internal Rate of Return
Average Daily Sales
shrinkage
gross margin
21. $ Markdown/ $ Net Sales (multiply result by 100 to express as percentage)
Markdown %
types of liabilities
15
Compound interest formula with changing rates
22. A team won 16 games and lost 9 games. What percent of games did the team lose?
Compound interest formula with changing rates
36%
1.304
types of assets
23. Total Net Sales / Total Number of Transactions
Mark Up %
stock turn
Sales per Transaction
78
24. Cash on delivery; this dating is used when the vendor does not know the retailer or the retailer does not have a strong line of credit
Sales per Transaction
The sum of a Geometric Progression
COD
DOI
25. Multiply the number by 1-the decrease proportion - e.g. 16(1-0.25) = 160.75 = 12 - 12 is a 25% decrease of 16
types of capital
book value
1.304
To decrease a number by a given percentage - e.g. decrease 16 by 25%
26. Turning assets into cash.
percent decrease
With cash discounts and calculating net price - when to add freight
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
Liquidity of Assets
27. What happens when your expenses - etc. are higher than your sales
Sales per Transaction
loss
When Dividing With Exponents
3%
28. Original retail price - Lower retail price
$ Markdown
The sum of a Geometric Progression
types of liabilities
60
29. Outside numbers in a ratio.
Simple interest formula
FOB destination
Extremes
80/100
30. Wholesale cost
Break Even Point
Dividing Fractions
cost of goods
62%
31. A/b
DOI
Multiplying Fractions
70%
588 mph
32. If freight is to be paid by the seller - the shipping terms are...
FOB destination
$ COST
increase=debit
Dividing Fractions
33. Another name for the P & L statement mainly used by managers planning sales or accountants formulating analyses
The sum of a Geometric Progression
Means
percent
income statement
34. A form of closed-end credit used for purchasing durable goods such as cars
Adding Fractions
When Dividing With Exponents
Internal Rate of Return
installment loan
35. Convert .62 to a percent
62%
Gross Margin Return On Inventory Investment (GMROII)
To decrease a number by a given percentage - e.g. decrease 16 by 25%
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
36. Convert 1/4 to a percent
Average Collection Turnover
15
operating expenses
25%
37. Two equivalent ratios joined by an equal sign.
cost of goods sold formula (COGS)
Proportion
percent
Markup
38. A measure of the number of days needed to collect accounts receivable.
$ Markdown
Average Collection Turnover
stock turn
profit
39. total annual sales/365
Liquidity of Assets
Average Daily Sales
installment loan
types of expenses
40. Divide the result by 1-the decrease proportion - eg) X=16/(1-0.25)=21.33 - 16 is a 25% decrease of 21.33
loss
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
16-18
Current Assets
41. (TY-LY)/ LY or (Plan-Actual)/
% increase or decrease
Break Even Point Formula
types of assets
profit
42. 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?
costs of goods sold
70%
2.5% per month
cost of goods
43. He availability of your money is called _.
80/100
Liquidity
Gross margin dollars
when multiplying numbers that contain decimals:
44. Accounts payable - bonds - notes payable (bank loans) - provisions for pensions
types of liabilities
Break Even Point
per hundred
$6 -655.50
45. When refunds or retail price reductions are given to customers - these activities reduce the value of this (also known as initial sales). formula: GS = NS + RED; GS$ = NS$ X GS%
types of expenses
net sales
transportation
gross sales
46. Convert 65% to a decimal
90.9%
underbought
.65
OTB (retail)
47. (Retail - Cost)/ Retail
Margin %
gross margin
DOI
per hundred
48. Convert 1.25 to a percent
DOI
percent
Average Daily Sales
125%
49. A plane flies 980 miles in 1 2/3 hours. How many miles does the plane average per hour
COD
588 mph
.56
profit
50. S=X(1+r1)^y(1+r
.56
gross sales
Compound interest formula with changing rates
Sell Thru %
Can you answer 50 questions in 15 minutes?
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