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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 1.25 to a percent






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






3. Turning assets into cash.






4. A team won 16 games and lost 9 games. What percent of games did the team lose?






5. Original retail price - Lower retail price






6. Alignment of the decimals is not important






7. Convert 65% to a decimal






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






9. The wholesale cost of goods plus the markup






10. 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






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






12. 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






13. Beginning inventory + Purchases - Ending inventory






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






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






17. Shortage$ = book$ - physical count$; shortage% = shortage$/NS$






18. 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






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






20. Convert 10/11 to a percent






21. Convert 41/100 to a percent






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






23. When sales plans are underestimated and the stock purchases result in a low inventory






24. Liabilities - capital - income






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






26. cash + receivables/ current liabilities.






27. 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)






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. A/b






30. 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.






31. Sales - cost of goods sold






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






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






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






35. What does percent mean?






36. Inside numbers in a ratio.






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






38. Convert 3 to a percent






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






40. What is the product of 3.26 and 0.4?






41. BOM $ Stock/ Sales for period






42. Convert .36 to a percent






43. A/b






44. A count of every item on the floor - in stock rooms - warehouse - etc. to determine whether shortages or overages are occuring






45. total annual sales/365






46. 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






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






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






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






50. Convert 70/100 to a percent