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






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






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






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






5. Convert .4 to a percent






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






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






8. Convert .62 to a percent






9. accounts receivable/ average daily sales






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






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






12. 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






13. A/b






14. Turning assets into cash.






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






16. BOM $ Stock/ Sales for period






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






18. Outside numbers in a ratio.






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






20. Convert 3 to a percent






21. Convert 65% to a decimal






22. Cash or assets that can quickly be converted into cash.






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






24. The point at which you stop losing money.






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






26. Convert 1.25 to a percent






27. A measure of the number of days needed to collect accounts receivable.






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






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






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






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






32. Total Net Sales / Total Number of Transactions






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






34. Convert 50% to a fraction






35. 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)






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






37. Convert 14% to a fraction






38. Net Sales for period/ Avg Stock for period






39. 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






40. current assets/ current liabilities






41. (Retail - Cost)/ Retail






42. Convert 1/4 to a percent






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






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






46. Convert 10/11 to a percent






47. Gross Margin/ Average Inventory Cost






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






49. 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%






50. Convert 80% to a fraction







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Can you answer 50 questions in 15 minutes?


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