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






2. What does percent mean?






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






4. He availability of your money is called _.






5. 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






6. A/b






7. Convert 41/100 to a percent






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






9. Gross Margin/ Average Inventory Cost






10. A fraction in which the denominator is equal to or less than the numerator is a(an) ______________ fraction.






11. 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%






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






13. Convert 50% to a fraction






14. $ RETAIL X (100 - GM %) / 100






15. Outside numbers in a ratio.






16. The point at which you stop losing money.






17. Assets - cost of goods sold - expenses






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






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






20. Liabilities - capital - income






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






22. (TY-LY)/ LY or (Plan-Actual)/






23. The wholesale cost of goods plus the markup






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






25. $ retail x (100%-markup)






26. 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.






27. Alignment of the decimals is not important






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






29. current assets/ current liabilities






30. Total Net Sales / Total Number of Transactions






31. Convert 1.25 to a percent






32. (Retail - Cost)/ Retail






33. cash + receivables/ current liabilities.






34. Convert 20 to a percent






35. A/b + c/b = (a+c)/b






36. Divide the result by 1-the decrease proportion - eg) X=16/(1-0.25)=21.33 - 16 is a 25% decrease of 21.33






37. Original retail price - Lower retail price






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






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






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






41. $ Cost/ (100%-markup%)






42. Convert 70/100 to a percent






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






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






45. Convert 80% to a fraction






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






47. Convert .4 to a percent






48. Sales - cost of goods sold






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






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