SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
DSST Business Math
Start Test
Study First
Subjects
:
dsst
,
math
,
business-skills
,
business-math
,
bvat
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. Convert 41/100 to a percent
41%
$252
FOB destination
stock turn
2. Date of invoice - the cash discount terms will have no dating within the discount statement; ex: 4/10 - n/30
41%
Average Daily Sales
transportation
DOI
3. (Retail - Cost)/ Retail
Margin %
book value
cost of goods sold formula (COGS)
shrinkage
4. Accounts payable - bonds - notes payable (bank loans) - provisions for pensions
types of liabilities
Break Even Point Formula
$ Cost
378 63
5. The wholesale cost of an item (cost of goods - or COG)
loss
net sales
Cost
profit
6. If freight is to be paid by the seller - the shipping terms are...
Of what number 16 is a 25% increase
FOB destination
Multiplying Fractions
36%
7. 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)
Inventory Turnover Rate
Internal Rate of Return
Dividing Fractions
.65
8. Convert 56% to a decimal
1.304
.56
588 mph
Break Even Point
9. Formula: GM = NS - COG; GM$ = NS$ X GM%
cost of goods
3%
loss
gross margin
10. Convert 70% to a decimal
36%
netprice with a 25/10/10 series discount
.7
types of expenses
11. Wholesale cost
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
Gross margin %
Average Collection Turnover
cost of goods
12. total annual sales/365
Means
Average Daily Sales
4%
types of incomes
13. What does percent mean?
Current Ratio
increase=debit
Of what number 16 is a 25% increase
per hundred
14. accounts receivable/ average daily sales
percent decrease
types of assets
Average Collection Turnover
70%
15. 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
types of expenses
70%
2.5% per month
To increase a number by a given percentage - e.g. increase 16 by 25%
16. 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
Unit pricing
profit and loss statement
16-18
25
17. What is the product of 3.26 and 0.4?
Dividing Fractions
2.5% per month
1.304
types of capital
18. Shortage$ = book$ - physical count$; shortage% = shortage$/NS$
16-18
types of liabilities
Markdown %
shortage
19. Loss of items due to damaged goods - stealing - etc.
types of incomes
With cash discounts and calculating net price - when to add freight
shrinkage
62%
20. $ retail x (100%-markup)
378 63
Quick Ratio
net sales
$ Cost
21. 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
percent decrease
Break Even Point Formula
Discounting Formula
Compound interest formula with changing rates
22. A count of every item on the floor - in stock rooms - warehouse - etc. to determine whether shortages or overages are occuring
41%
per hundred
50/100
physical inventory
23. Sales - cost of goods sold
Current Ratio
62%
Proportion
Gross margin dollars
24. Convert 1.25 to a percent
125%
Stock to Sales Ratio
.7
Discounting Formula
25. $ RETAIL X (100 - GM %) / 100
$ COST
Simple interest formula
Sales per Transaction
4%
26. Assets - cost of goods sold - expenses
increase=debit
Gross Margin Return On Inventory Investment (GMROII)
25%
shrinkage
27. 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
125%
The sum of a Geometric Progression
Proportion
installment loan
28. GMROII = GM% x (Sales / Average Value of Inventory)
Discounting Formula
Gross Margin Return On Inventory Investment (GMROII)
3%
to determine equivalent single discount rate for 25/10/10 series discount
29. 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
Cost
steps in strategic planning
$ Retail
Compound interest formula with changing rates
30. Convert 1/4 to a percent
25%
Quick Ratio
stock turn
20%
31. (TY-LY)/ LY or (Plan-Actual)/
90.9%
% increase or decrease
types of expenses
installment loan
32. Multiply the number by 1+the increase proportion - e.g. 16(1+0.25) = 161.25 = 20 - 20 is a 25% increase over 16
Markdown %
90.9%
To increase a number by a given percentage - e.g. increase 16 by 25%
Compound interest formula with changing rates
33. Turning assets into cash.
percent decrease
2.5% per month
.65
Liquidity of Assets
34. cost of an item expressed per unit of measure or count.
Unit pricing
25
$6 -655.50
profit and loss statement
35. A value or an expression of how fast merchandise moves through the store; also called turn. formula: turn - NS$ / Average Stock$ (average stock$ = BOM$ + EOM$)/(#BOM + 1)
Retail
Simple interest formula
stock turn
loss
36. S=X(1+r1)^y(1+r
gross sales
Gross margin %
Mark Up %
Compound interest formula with changing rates
37. A fraction in which the denominator is equal to or less than the numerator is a(an) ______________ fraction.
Sell Thru %
stock turn
improper
Discounting Formula
38. The point at which you stop losing money.
per hundred
profit
Break Even Point
Extremes
39. Total Net Sales / Total Number of Transactions
Sales per Transaction
3%
per hundred
book value
40. Another way of counting part of a whole?
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
percent
1.304
profit and loss statement
41. Accounts receivable - buildings - cash - copyrights - equiptment - furniture and fixtures - land - tomor vehicles
Margin %
types of assets
70%
25
42. Receipt of goods; the cash discount period and net period begin with the date of receipt of goods; ex: 8/10 ROG - n/30
increase=debit
Current Ratio
ROG
Effective annual rate of interest formula
43. A/b - c/b = a-c/b
Liquidity
percent
Subtracting Fractions
Simple interest formula
44. Convert 14% to a fraction
FOB destination
types of liabilities
14/100
overbought
45. Two equivalent ratios joined by an equal sign.
Proportion
15
profit
41%
46. Gross Margin/ Average Inventory Cost
GMROI
EOM (in terms of invoice)
Markup
The sum of a Geometric Progression
47. Convert 10/11 to a percent
Adding Fractions
90.9%
income statement
378 63
48. Convert 3 to a percent
62%
Mark Up %
Cost
3%
49. After 4 years - $5 -000 will grow to how much if it earns 10% interest?
Current Ratio
ROG
shortage
$6 -655.50
50. After all discounts have been applied to find net amount due. $100 -25% less trade discount -4% cash discount # + $20 freight!
With cash discounts and calculating net price - when to add freight
62%
types of liabilities
3%
Sorry!:) No result found.
Can you answer 50 questions in 15 minutes?
Let me suggest you:
Browse all subjects
Browse all tests
Most popular tests
Major Subjects
Tests & Exams
AP
CLEP
DSST
GRE
SAT
GMAT
Certifications
CISSP go to https://www.isc2.org/
PMP
ITIL
RHCE
MCTS
More...
IT Skills
Android Programming
Data Modeling
Objective C Programming
Basic Python Programming
Adobe Illustrator
More...
Business Skills
Advertising Techniques
Business Accounting Basics
Business Strategy
Human Resource Management
Marketing Basics
More...
Soft Skills
Body Language
People Skills
Public Speaking
Persuasion
Job Hunting And Resumes
More...
Vocabulary
GRE Vocab
SAT Vocab
TOEFL Essential Vocab
Basic English Words For All
Global Words You Should Know
Business English
More...
Languages
AP German Vocab
AP Latin Vocab
SAT Subject Test: French
Italian Survival
Norwegian Survival
More...
Engineering
Audio Engineering
Computer Science Engineering
Aerospace Engineering
Chemical Engineering
Structural Engineering
More...
Health Sciences
Basic Nursing Skills
Health Science Language Fundamentals
Veterinary Technology Medical Language
Cardiology
Clinical Surgery
More...
English
Grammar Fundamentals
Literary And Rhetorical Vocab
Elements Of Style Vocab
Introduction To English Major
Complete Advanced Sentences
Literature
Homonyms
More...
Math
Algebra Formulas
Basic Arithmetic: Measurements
Metric Conversions
Geometric Properties
Important Math Facts
Number Sense Vocab
Business Math
More...
Other Major Subjects
Science
Economics
History
Law
Performing-arts
Cooking
Logic & Reasoning
Trivia
Browse all subjects
Browse all tests
Most popular tests