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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. Divide the result by 1+the increase proportion eg) X=16/(1+0.25) = 12.8 - 16 is a 25% increase over 12.8






2. Net Sales for period/ Avg Stock for period






3. Beginning inventory + Purchases - Ending inventory






4. Cash on delivery; this dating is used when the vendor does not know the retailer or the retailer does not have a strong line of credit






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






6. Convert 70/100 to a percent






7. A value or an expression of how fast merchandise moves through the store; also called turn. formula: turn - NS$ / Average Stock$ (average stock$ = BOM$ + EOM$)/(#BOM + 1)






8. Inside numbers in a ratio.






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






10. The recommended house payment should be no more than _% of your monthly take-home pay.






11. Convert .4 to a percent






12. Convert 3 to a percent






13. What is the product of 3.26 and 0.4?






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






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






16. 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






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. Formula: GM = NS - COG; GM$ = NS$ X GM%






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






20. 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






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






22. Assets - cost of goods sold - expenses






23. The point at which you stop losing money.






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






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






26. Two equivalent ratios joined by an equal sign.






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






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






29. He availability of your money is called _.






30. Convert 56% to a decimal






31. 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






32. Wholesale cost






33. cash + receivables/ current liabilities.






34. Another way of counting part of a whole?






35. Alignment of the decimals is not important






36. Convert 70% to a decimal






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






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






39. The wholesale cost of goods plus the markup






40. 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






41. Cash or assets that can quickly be converted into cash.






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






43. A plane flies 980 miles in 1 2/3 hours. How many miles does the plane average per hour






44. Turning assets into cash.






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






46. IRR=1 + [(NPV1/NPV1-NPV2)(2-1)]% Where: 1=one interest rate 2=the other NPV1=the NPV at rate 1 NPV2=the NPV at rate 2 (NPV = Net Present Value)






47. Original retail price - Lower retail price






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






49. Sales - cost of goods sold






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






Can you answer 50 questions in 15 minutes?



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