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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. Convert 65% to a decimal






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






3. Net Sales for period/ Avg Stock for period






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






5. Convert .4 to a percent






6. Assets - cost of goods sold - expenses






7. Another way of counting part of a whole?






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






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






10. Net Sales / Average Retail Value of Inventory






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






12. $ retail x (100%-markup)






13. cost of an item expressed per unit of measure or count.






14. 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






15. 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?






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






17. Convert .36 to a percent






18. Convert 70/100 to a percent






19. Convert 3 to a percent






20. 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






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






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






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






24. 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.






25. 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






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






27. Beginning inventory + Purchases - Ending inventory






28. Convert 50% to a fraction






29. After 4 years - $5 -000 will grow to how much if it earns 10% interest?






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






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






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






33. BOM $ Stock/ Sales for period






34. 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






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






36. Convert 1.25 to a percent






37. (Retail - Cost)/ Retail






38. current assets/ current liabilities






39. Gross Margin/ Average Inventory Cost






40. cash + receivables/ current liabilities.






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






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






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






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






45. total annual sales/365






46. The point at which you stop losing money.






47. Convert .62 to a percent






48. Inside numbers in a ratio.






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






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







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