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






2. Capital stock - owner's equity (owner's funds invested in the business)






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






4. Alignment of the decimals is not important






5. Convert .62 to a percent






6. Convert 20 to a percent






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






8. accounts receivable/ average daily sales






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






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






11. Outside numbers in a ratio.






12. What does percent mean?






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






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






15. 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






16. total annual sales/365






17. Two equivalent ratios joined by an equal sign.






18. 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






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






20. A^m/a^n = a^(m-n)






21. 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)






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






23. Convert 14% to a fraction






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






25. Another way of counting part of a whole?






26. 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)






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






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






29. 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






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






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






32. Original retail price - Lower retail price






33. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






34. Assets - cost of goods sold - expenses






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






36. Inside numbers in a ratio.






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






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






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






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






41. Sales - cost of goods sold






42. 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






43. 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...






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






45. What is the product of 3.26 and 0.4?






46. 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






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






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






49. Convert 1.25 to a percent






50. Convert 80% to a fraction