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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. 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






2. Convert .36 to a percent






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






4. 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%






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






6. Total Net Sales / Total Number of Transactions






7. cash + receivables/ current liabilities.






8. Convert 65% to a decimal






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






10. 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?






11. 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






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






13. BOM $ Stock/ Sales for period






14. He availability of your money is called _.






15. Convert 1/4 to a percent






16. 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.






17. 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...






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






19. (Retail - Cost)/ Retail






20. Original retail price - Lower retail price






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






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






23. 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






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






25. Another way of counting part of a whole?






26. A^m/a^n = a^(m-n)






27. Wholesale cost






28. Beginning inventory + Purchases - Ending inventory






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






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






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






32. Convert .4 to a percent






33. Convert .62 to a percent






34. Convert 41/100 to a percent






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






36. The wholesale cost of goods plus the markup






37. 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






38. 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






39. $ retail x (100%-markup)






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






41. What is the product of 3.26 and 0.4?






42. Convert 10/11 to a percent






43. A/b






44. Net Sales for period/ Avg Stock for period






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






46. 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?






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






48. Convert 80% to a fraction






49. Assets - cost of goods sold - expenses






50. total annual sales/365