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






2. Convert .36 to a percent






3. 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.






4. A/b






5. 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)






6. Date of invoice - the cash discount terms will have no dating within the discount statement; ex: 4/10 - n/30






7. Total Net Sales / Total Number of Transactions






8. Sales - cost of goods sold






9. 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%






10. 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






11. total annual sales/365






12. (Retail - Cost)/ Retail






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






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






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






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






17. Convert .62 to a percent






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






19. GMROII = GM% x (Sales / Average Value of Inventory)






20. Wholesale cost






21. The point at which you stop losing money.






22. Convert 50% to a fraction






23. Another way of counting part of a whole?






24. Capital stock - owner's equity (owner's funds invested in the business)






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






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






27. Convert 80% to a fraction






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






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






30. cash + receivables/ current liabilities.






31. The difference between the retail price and the cost of goods sold; it includes operating expenses - retail reductions - and profit






32. Alignment of the decimals is not important






33. When refunds or retail price reductions are given to customers - these activities reduce the value of this (also known as initial sales). formula: GS = NS + RED; GS$ = NS$ X GS%






34. Convert 3 to a percent






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






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






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






38. 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?






39. 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






40. BOM $ Stock/ Sales for period






41. Assets - cost of goods sold - expenses






42. A/b






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






44. Planned Sales + Planned Markdowns + Planned EOM - Planned BOM






45. 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)






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






47. Gross Margin/ Average Inventory Cost






48. Convert 1/4 to a percent






49. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






50. What is the product of 3.26 and 0.4?







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Can you answer 50 questions in 15 minutes?


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