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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. What is the product of 3.26 and 0.4?






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






3. A/b






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






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






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






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






8. Overage$ = book$ - physical count$; overage% = overage$/NS$






9. He availability of your money is called _.






10. Convert 65% to a decimal






11. % of 90 days same as cash convert to payments.






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






13. 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)






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






15. 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?






16. accounts receivable/ average daily sales






17. 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






18. Assets - cost of goods sold - expenses






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






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






21. $ retail x (100%-markup)






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






23. Convert 70% to a decimal






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






25. (Retail - Cost)/ Retail






26. Gross Margin/ Average Inventory Cost






27. current assets/ current liabilities






28. Convert 56% to a decimal






29. 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%






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






31. Inside numbers in a ratio.






32. Total Net Sales / Total Number of Transactions






33. Convert 1.25 to a percent






34. Turning assets into cash.






35. To take advantage of the 6% cash discount - a retailer made a $2 -000 partial payment during the discount period. How much was the retailer credited for the $2 -000 partial payment?






36. Wholesale cost






37. Convert 20 to a percent






38. The difference between the retail price and the cost of goods sold; it includes operating expenses - retail reductions - and profit






39. Net Sales / Average Retail Value of Inventory






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






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. $ Cost/ (100%-markup%)






43. Two equivalent ratios joined by an equal sign.






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






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






46. 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%






47. Another way of counting part of a whole?






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






49. BOM $ Stock/ Sales for period






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