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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. 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?






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






3. A formal document that is used for a variety of functions within a retail business; it provides a big picture look at the succinct expression of the sales - markup - and profit for a business






4. Beginning inventory + Purchases - Ending inventory






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






6. The point at which you stop losing money.






7. A team won 16 games and lost 9 games. What percent of games did the team lose?






8. Convert .4 to a percent






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






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






11. What is the product of 3.26 and 0.4?






12. Aka - the terminal value of an investment to which equal annual amounts will be added S=[A(R^n -1)]/R-1 Where: S=the terminal value A=the first term R=the common ratio n=the number of terms






13. Convert 41/100 to a percent






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






15. Convert 10/11 to a percent






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






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






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






19. 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)






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






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






22. Convert 70/100 to a percent






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






24. You should never take out more than a _ year mortgage.






25. Gross Margin/ Average Inventory Cost






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






27. total fixed costs/ selling price-variable cost






28. 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%






29. If freight is to be paid by the seller - the shipping terms are...






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






31. BOM $ Stock/ Sales for period






32. A/b + c/b = (a+c)/b






33. Convert 3 to a percent






34. The recommended house payment should be no more than _% of your monthly take-home pay.






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






36. Convert 1.25 to a percent






37. 1. develop a vision statement for the company - 2. scan the internal and external environments - 3. determine issues critical to the company - 4. select the problem to be solved - 5. determine the specific strategy to achieve the solution - 6. identi






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






39. Formula: GM = NS - COG; GM$ = NS$ X GM%






40. cash + receivables/ current liabilities.






41. Convert 80% to a fraction






42. Turning assets into cash.






43. A/b






44. Inside numbers in a ratio.






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






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






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






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






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






50. He availability of your money is called _.