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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. What is the product of 3.26 and 0.4?
3%
Sell Thru %
1.304
EOM (in terms of invoice)
2. 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)
36%
Margin %
Simple interest formula
62%
3. Outside numbers in a ratio.
steps in strategic planning
To decrease a number by a given percentage - e.g. decrease 16 by 25%
percent decrease
Extremes
4. 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.
$2 -127.66
net sales
operating expenses
Multiplying Fractions
5. A/b - c/b = a-c/b
Subtracting Fractions
The sum of a Geometric Progression
$252
Break Even Point
6. Beginning inventory + Purchases - Ending inventory
Retail
36%
Simple interest formula
cost of goods sold formula (COGS)
7. Convert 14% to a fraction
when multiplying numbers that contain decimals:
GMROI
Proportion
14/100
8. Divide the result by 1+the increase proportion eg) X=16/(1+0.25) = 12.8 - 16 is a 25% increase over 12.8
Mark Up %
When Dividing With Exponents
steps in strategic planning
Of what number 16 is a 25% increase
9. End of month; dating starts with the end of the month and the invoice is to be paid within the specified number of days after the end of the month in which goods are invoiced; ex: 8/10 EOM - n/90
Sell Thru %
.65
EOM (in terms of invoice)
types of assets
10. Commissions - fees for service - merchandise sales - rental income - royalties
types of incomes
Average Collection Turnover
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
25%
11. Formula: GM = NS - COG; GM$ = NS$ X GM%
78
Markup
shrinkage
gross margin
12. 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...
41%
operating expenses
$ Retail
70%
13. Multiply the number by 1+the increase proportion - e.g. 16(1+0.25) = 161.25 = 20 - 20 is a 25% increase over 16
$ Retail
To increase a number by a given percentage - e.g. increase 16 by 25%
gross margin
$ Cost
14. Convert 56% to a decimal
types of assets
Sell Thru %
78
.56
15. What happens when your sales are higher than your expenses - etc.
Turnover
profit
$ Retail
25
16. Convert .36 to a percent
36%
Sales per Transaction
gross sales
income statement
17. A count of every item on the floor - in stock rooms - warehouse - etc. to determine whether shortages or overages are occuring
cost of goods
Means
profit and loss statement
physical inventory
18. Cash or assets that can quickly be converted into cash.
Current Assets
Stock to Sales Ratio
80/100
$ Markdown
19. 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
Quick Ratio
$ Cost
Discounting Formula
profit and loss statement
20. Capital stock - owner's equity (owner's funds invested in the business)
Current Assets
COD
types of capital
Multiplying Fractions
21. The wholesale cost of goods plus the markup
Turnover
Retail
Means
overbought
22. (TY-LY)/ LY or (Plan-Actual)/
Unit pricing
$252
% increase or decrease
operating expenses
23. Two equivalent ratios joined by an equal sign.
20%
Internal Rate of Return
FOB destination
Proportion
24. Original retail price - Lower retail price
profit
36%
Inventory Turnover Rate
$ Markdown
25. Multiply the number by 1-the decrease proportion - e.g. 16(1-0.25) = 160.75 = 12 - 12 is a 25% decrease of 16
Average Daily Sales
operating expenses
To decrease a number by a given percentage - e.g. decrease 16 by 25%
Subtracting Fractions
26. Shortage$ = book$ - physical count$; shortage% = shortage$/NS$
Effective annual rate of interest formula
types of liabilities
25
shortage
27. 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?
gross sales
% increase or decrease
378 63
$252
28. Convert .62 to a percent
3%
to determine equivalent single discount rate for 25/10/10 series discount
Inventory Turnover Rate
62%
29. Convert 50% to a fraction
Turnover
50/100
$6 -655.50
Of what number 16 is a 25% increase
30. A team won 16 games and lost 9 games. What percent of games did the team lose?
netprice with a 25/10/10 series discount
2.5% per month
36%
60
31. Convert 65% to a decimal
Of what number 16 is a 25% increase
Average Collection Turnover
.65
cost of goods sold formula (COGS)
32. total annual sales/365
Average Daily Sales
Inventory Turnover Rate
Dividing Fractions
types of assets
33. % of 90 days same as cash convert to payments.
types of incomes
increase=debit
percent
78
34. What does percent mean?
per hundred
$ COST
Average Daily Sales
when multiplying numbers that contain decimals:
35. Divide the result by 1-the decrease proportion - eg) X=16/(1-0.25)=21.33 - 16 is a 25% decrease of 21.33
Quick Ratio
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
1.304
Average Collection Turnover
36. Alignment of the decimals is not important
Markup
when multiplying numbers that contain decimals:
Liquidity of Assets
90.9%
37. Another name for the P & L statement mainly used by managers planning sales or accountants formulating analyses
to determine equivalent single discount rate for 25/10/10 series discount
income statement
Of what number 16 is a 25% increase
Average Daily Sales
38. Convert 20 to a percent
Turnover
underbought
20%
Simple interest formula
39. 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%
to determine equivalent single discount rate for 25/10/10 series discount
Effective annual rate of interest formula
overbought
$252
40. cash + receivables/ current liabilities.
% increase or decrease
20%
Break Even Point
Quick Ratio
41. The point at which you stop losing money.
Break Even Point
per hundred
Cost
book value
42. The average car will lose _% of its value in the first 4 years.
Average Daily Sales
percent
Liquidity
60
43. A/b
Of what number 16 is a 25% increase
Dividing Fractions
Multiplying Fractions
$ Retail
44. A plane flies 980 miles in 1 2/3 hours. How many miles does the plane average per hour
Effective annual rate of interest formula
1.304
Break Even Point
588 mph
45. $ Cost x (100 + Mark-up %) / 100
EOM (in terms of invoice)
378 63
percent decrease
$ Retail
46. Convert 80% to a fraction
Multiplying Fractions
80/100
Proportion
.65
47. Direct labor - factory overhead - merchandise inventory - packaging - raw material
125%
to determine equivalent single discount rate for 25/10/10 series discount
costs of goods sold
Adding Fractions
48. cost of an item expressed per unit of measure or count.
Unit pricing
Sales per Transaction
80/100
Mark Up %
49. The average person will have _ jobs in their lifetime.
16-18
physical inventory
DOI
Sales per Transaction
50. Another way of counting part of a whole?
loss
improper
OTB (retail)
percent