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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. Alignment of the decimals is not important






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






3. Assets - cost of goods sold - expenses






4. 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)






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






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






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






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






9. 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?






10. Convert 56% to a decimal






11. A/b






12. Convert 65% to a decimal






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






14. Convert .62 to a percent






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






16. Sales - cost of goods sold






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






18. 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.






19. What does percent mean?






20. Total Net Sales / Total Number of Transactions






21. Convert 70% to a decimal






22. Convert 50% to a fraction






23. 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






24. BOM $ Stock/ Sales for period






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






26. Two equivalent ratios joined by an equal sign.






27. Original retail price - Lower retail price






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






29. Beginning inventory + Purchases - Ending inventory






30. total annual sales/365






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






32. Convert .4 to a percent






33. Advertising - bad debt expense - conributions and donations - depreciation - educational expense - insurance - interest expense - licenses - office supplies - postage - rent - repairs - salaries and wages - supplies - taxes - travel and transportatio






34. Direct labor - factory overhead - merchandise inventory - packaging - raw material






35. Convert 20 to a percent






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






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






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






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






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






41. Convert 41/100 to a percent






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






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






44. Convert 80% to a fraction






45. Convert .36 to a percent






46. 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






47. X=S*[1/(1+r)^n] Where: S=the sum to be received after n time periods X=the present value of that sum r=the rate of return (as a proportion) n=the number of time periods - r - rate - is sometimes called cost of capital






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






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






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







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