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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. cash + receivables/ current liabilities.






2. Original retail price - Lower retail price






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






4. What is the product of 3.26 and 0.4?






5. current assets/ current liabilities






6. 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?






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






8. The wholesale cost of an item (cost of goods - or COG)






9. Accounts receivable - buildings - cash - copyrights - equiptment - furniture and fixtures - land - tomor vehicles






10. He availability of your money is called _.






11. A plane flies 980 miles in 1 2/3 hours. How many miles does the plane average per hour






12. Convert 10/11 to a percent






13. A form of closed-end credit used for purchasing durable goods such as cars






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






15. 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






16. A^m/a^n = a^(m-n)






17. 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






18. Convert 1/4 to a percent






19. A/b






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






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






22. Convert 14% to a fraction






23. Two equivalent ratios joined by an equal sign.






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






25. GMROII = GM% x (Sales / Average Value of Inventory)






26. Receipt of goods; the cash discount period and net period begin with the date of receipt of goods; ex: 8/10 ROG - n/30






27. Net Sales for period/ Avg Stock for period






28. After all discounts have been applied to find net amount due. $100 -25% less trade discount -4% cash discount # + $20 freight!






29. 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%






30. Convert .36 to a percent






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






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






33. Convert 20 to a percent






34. The average car payment is $_ per month for _ months.






35. The wholesale cost of goods plus the markup






36. Start with list price - List price: $6400 x 25% - x 10% - x10% % - Taken one after another(subtract)






37. Commissions - fees for service - merchandise sales - rental income - royalties






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






39. Total Net Sales / Total Number of Transactions






40. Convert 70% to a decimal






41. A/b






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






43. After 4 years - $5 -000 will grow to how much if it earns 10% interest?






44. Capital stock - owner's equity (owner's funds invested in the business)






45. The average car will lose _% of its value in the first 4 years.






46. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






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






48. (Retail - Cost)/ Retail






49. Convert 80% to a fraction






50. 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







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Can you answer 50 questions in 15 minutes?


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