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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. Convert 1/4 to a percent






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






3. Beginning inventory + Purchases - Ending inventory






4. $ retail x (100%-markup)






5. Convert 20 to a percent






6. Wholesale cost






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






8. Convert 65% to a decimal






9. Net Sales for period/ Avg Stock for period






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






11. Two equivalent ratios joined by an equal sign.






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






13. Assets - cost of goods sold - expenses






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






15. Convert 3 to a percent






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






17. Outside numbers in a ratio.






18. Alignment of the decimals is not important






19. total fixed costs/ selling price-variable cost






20. (Retail - Cost)/ Retail






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






22. ($ Retail x 100 / COST) - 100






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






24. 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






25. Original retail price - Lower retail price






26. He availability of your money is called _.






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






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






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






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






31. Convert 80% to a fraction






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






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






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






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






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. 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?






38. cash + receivables/ current liabilities.






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






40. 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.






41. Convert 1.25 to a percent






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






43. A/b






44. Gross Margin/ Average Inventory Cost






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






46. Convert 56% to a decimal






47. A measure of the number of days needed to collect accounts receivable.






48. Convert .4 to a percent






49. Gross margin dollars/Net sales dollars (multiply by 100 to express as percentage) or (Selling price - cost) x 100 / Selling price






50. Convert 10/11 to a percent






Can you answer 50 questions in 15 minutes?



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