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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. Convert 3 to a percent






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






3. current assets/ current liabilities






4. Liabilities - capital - income






5. Net Sales for period/ Avg Stock for period






6. When sales plans are underestimated and the stock purchases result in a low inventory






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






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






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






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






11. A/b






12. Beginning inventory + Purchases - Ending inventory






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






14. Net Sales / Average Retail Value of Inventory






15. 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)






16. The sum of the cost of doing business - except the cost of goods; they include such items as sales persons' salaries - bags - paper and pencils - and cleaning of carpets...






17. A value or an expression of how fast merchandise moves through the store; also called turn. formula: turn - NS$ / Average Stock$ (average stock$ = BOM$ + EOM$)/(#BOM + 1)






18. Turning assets into cash.






19. The wholesale cost of goods plus the markup






20. 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






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






22. Actual retail sales; the retail price at which one tiem is sold is combined with the retail prices of all the items that are sold to become the net sales amount.






23. Sales - cost of goods sold






24. 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?






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






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






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






28. Convert 70/100 to a percent






29. What does percent mean?






30. Convert 70% to a decimal






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






32. A/b - c/b = a-c/b






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






34. accounts receivable/ average daily sales






35. 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?






36. A fraction in which the denominator is equal to or less than the numerator is a(an) ______________ fraction.






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






38. total fixed costs/ selling price-variable cost






39. The point at which you stop losing money.






40. Convert 1.25 to a percent






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






42. S=X+nrX Where: X=the original sum invested r=the interest rate (as a proportion - e.g. 0.05=5%) n=the number of periods S=the sum invested after n periods (capital + interest) - e.g. invest $1000 @ 10% simple interest for 5 years = 1000+(50.101000)






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






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






45. Convert 56% to a decimal






46. 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






47. Multiply the number by 1-the decrease proportion - e.g. 16(1-0.25) = 160.75 = 12 - 12 is a 25% decrease of 16






48. Accounts payable - bonds - notes payable (bank loans) - provisions for pensions






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






50. A count of every item on the floor - in stock rooms - warehouse - etc. to determine whether shortages or overages are occuring