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






2. (Retail - Cost)/ Retail






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






4. Original retail price - Lower retail price






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. 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%






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






9. He availability of your money is called _.






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






11. Convert 70/100 to a percent






12. Convert .4 to a percent






13. Convert 65% to a decimal






14. The point at which you stop losing money.






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






16. Assets - cost of goods sold - expenses






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






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






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






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






22. Sales - cost of goods sold






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






24. Convert 56% to a decimal






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






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






27. Total Net Sales / Total Number of Transactions






28. total fixed costs/ selling price-variable cost






29. 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...






30. Convert 41/100 to a percent






31. Multiply the number by 1+the increase proportion - e.g. 16(1+0.25) = 161.25 = 20 - 20 is a 25% increase over 16






32. Convert 80% to a fraction






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






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






35. cash + receivables/ current liabilities.






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






37. Planned Sales + Planned Markdowns + Planned EOM - Planned BOM






38. Date of invoice - the cash discount terms will have no dating within the discount statement; ex: 4/10 - n/30






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






40. 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.






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






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






43. Wholesale cost






44. 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






45. What is the product of 3.26 and 0.4?






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






47. Convert 10/11 to a percent






48. Convert 1.25 to a percent






49. Convert 20 to a percent






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







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Can you answer 50 questions in 15 minutes?


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