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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. 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)






2. 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)






3. Convert 10/11 to a percent






4. Convert 80% to a fraction






5. Net Sales for period/ Avg Stock for period






6. 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%






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






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






9. 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






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






11. Convert 1.25 to a percent






12. 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.






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






14. BOM $ Stock/ Sales for period






15. 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...






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






17. Beginning inventory + Purchases - Ending inventory






18. current assets/ current liabilities






19. A count of every item on the floor - in stock rooms - warehouse - etc. to determine whether shortages or overages are occuring






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






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






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






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






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






25. Sales - cost of goods sold






26. Turning assets into cash.






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






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






29. Convert 56% to a decimal






30. Inside numbers in a ratio.






31. Assets - cost of goods sold - expenses






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






33. Convert 65% to a decimal






34. A/b






35. (Retail - Cost)/ Retail






36. 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






37. 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






38. total annual sales/365






39. Outside numbers in a ratio.






40. Convert .62 to a percent






41. Convert 20 to a percent






42. What does percent mean?






43. Total Net Sales / Total Number of Transactions






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






45. Convert 70% to a decimal






46. The wholesale cost of goods plus the markup






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. Convert 70/100 to a percent






49. The point at which you stop losing money.






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