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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. A/b






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






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






4. Convert 14% to a fraction






5. accounts receivable/ average daily sales






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






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






8. Net Sales for period/ Avg Stock for period






9. Original retail price - Lower retail price






10. The point at which you stop losing money.






11. Convert .62 to a percent






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






13. Convert 80% to a fraction






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






15. S=X(1+r1)^y(1+r






16. Alignment of the decimals is not important






17. Convert 1.25 to a percent






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






19. $ Markdown/ $ Net Sales (multiply result by 100 to express as percentage)






20. $ retail x (100%-markup)






21. Convert 50% to a fraction






22. 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%






23. 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)






24. A/b






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






26. Convert 3 to a percent






27. cash + receivables/ current liabilities.






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






29. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






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






31. Convert .36 to a percent






32. The wholesale cost of an item (cost of goods - or COG)






33. Two equivalent ratios joined by an equal sign.






34. (Retail - Cost)/ Retail






35. The value of the inventory as kept in the handwritten ledgers or computer system; formula: book$ = merchandise available$ - NS$ - (MD$ + ED$)






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






37. Sales - cost of goods sold






38. Convert 70/100 to a percent






39. You should never take out more than a _ year mortgage.






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






41. Convert 10/11 to a percent






42. Convert 56% to a decimal






43. What is the product of 3.26 and 0.4?






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






45. Wholesale cost






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






47. 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...






48. 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)






49. Outside numbers in a ratio.






50. 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