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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. BOM $ Stock/ Sales for period






2. Use compliments - Step 1 Find compliments 25% = 100-25%= 75% - 10%= 90% - 10%=90% Step 2 Multiple Compliments 75%x90%x90% .75x.90x.90= .6075 Step 3 Convert to Percentage .6075= 60.75% Step 4 Compliment it 100%-60.75%= 39.35%






3. Convert 20 to a percent






4. Convert 70% to a decimal






5. Beginning inventory + Purchases - Ending inventory






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






7. Start with list price - List price: $6400 x 25% - x 10% - x10% % - Taken one after another(subtract)






8. 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%






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






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






11. 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?






12. current assets/ current liabilities






13. Total Net Sales / Total Number of Transactions






14. 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?






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






16. Convert .4 to a percent






17. Wholesale cost






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






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






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






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






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






23. What does percent mean?






24. (Retail - Cost)/ Retail






25. Outside numbers in a ratio.






26. cash + receivables/ current liabilities.






27. The wholesale cost of an item (cost of goods - or COG)






28. 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






29. The point at which you stop losing money.






30. 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






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






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






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






34. Turning assets into cash.






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






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






37. Convert 41/100 to a percent






38. $ retail x (100%-markup)






39. Convert 10/11 to a percent






40. He availability of your money is called _.






41. 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






42. 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)






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






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






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






46. 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






47. Formula: GM = NS - COG; GM$ = NS$ X GM%






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






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






50. A/b