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Test your basic knowledge |
DSST Business Math
Start Test
Study First
Subjects
:
dsst
,
math
,
business-skills
,
business-math
,
bvat
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. The average car will lose _% of its value in the first 4 years.
Sales per Transaction
Stock to Sales Ratio
60
Adding Fractions
2. Multiply the number by 1-the decrease proportion - e.g. 16(1-0.25) = 160.75 = 12 - 12 is a 25% decrease of 16
loss
16-18
To decrease a number by a given percentage - e.g. decrease 16 by 25%
The sum of a Geometric Progression
3. Capital stock - owner's equity (owner's funds invested in the business)
Sales per Transaction
25
types of capital
$252
4. Gross margin dollars/Net sales dollars (multiply by 100 to express as percentage) or (Selling price - cost) x 100 / Selling price
Simple interest formula
Gross margin %
Current Assets
78
5. Original retail price - Lower retail price
Of what number 16 is a 25% increase
Sales per Transaction
$ Markdown
36%
6. The average person will have _ jobs in their lifetime.
transportation
16-18
shortage
62%
7. Convert .4 to a percent
Stock to Sales Ratio
Proportion
4%
Compound interest formula with changing rates
8. When slaes plans are overestimated and the stock purchases result in a stockpiled inventory
125%
Unit pricing
overbought
Average Collection Turnover
9. Cash or assets that can quickly be converted into cash.
Current Assets
DOI
36%
to determine equivalent single discount rate for 25/10/10 series discount
10. A measure of the number of days needed to collect accounts receivable.
OTB (retail)
To increase a number by a given percentage - e.g. increase 16 by 25%
Average Collection Turnover
36%
11. A/b
Dividing Fractions
25
.7
Stock to Sales Ratio
12. Total Net Sales / Total Number of Transactions
Sales per Transaction
DOI
$ COST
Turnover
13. The wholesale cost of an item (cost of goods - or COG)
$ Retail
Dividing Fractions
gross margin
Cost
14. A team won 16 games and lost 9 games. What percent of games did the team lose?
15
36%
percent decrease
Current Ratio
15. Overage$ = book$ - physical count$; overage% = overage$/NS$
Average Collection Turnover
increase=debit
overages
types of expenses
16. 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)
Stock to Sales Ratio
stock turn
Internal Rate of Return
41%
17. Convert .36 to a percent
378 63
GMROI
36%
Gross Margin Return On Inventory Investment (GMROII)
18. Shortage$ = book$ - physical count$; shortage% = shortage$/NS$
FOB destination
shortage
2.5% per month
increase=debit
19. Wholesale cost
125%
cost of goods
overbought
Average Collection Turnover
20. The value of the inventory as kept in the handwritten ledgers or computer system; formula: book$ = merchandise available$ - NS$ - (MD$ + ED$)
gross margin
DOI
book value
Proportion
21. He availability of your money is called _.
FOB destination
Liquidity
underbought
$252
22. When sales plans are underestimated and the stock purchases result in a low inventory
The sum of a Geometric Progression
underbought
Liquidity of Assets
$252
23. Start with list price - List price: $6400 x 25% - x 10% - x10% % - Taken one after another(subtract)
16-18
80/100
netprice with a 25/10/10 series discount
$6 -655.50
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.
% increase or decrease
net sales
4%
Extremes
25. total fixed costs/ selling price-variable cost
netprice with a 25/10/10 series discount
net sales
Break Even Point Formula
Multiplying Fractions
26. Turning assets into cash.
Liquidity of Assets
588 mph
With cash discounts and calculating net price - when to add freight
Markup
27. A^m/a^n = a^(m-n)
When Dividing With Exponents
$ Retail
types of capital
To decrease a number by a given percentage - e.g. decrease 16 by 25%
28. Two equivalent ratios joined by an equal sign.
The sum of a Geometric Progression
overages
Proportion
To increase a number by a given percentage - e.g. increase 16 by 25%
29. GMROII = GM% x (Sales / Average Value of Inventory)
Markdown %
Gross Margin Return On Inventory Investment (GMROII)
90.9%
percent
30. $ Markdown/ $ Net Sales (multiply result by 100 to express as percentage)
profit
COD
16-18
Markdown %
31. What happens when your expenses - etc. are higher than your sales
ROG
To increase a number by a given percentage - e.g. increase 16 by 25%
1.304
loss
32. Planned Sales + Planned Markdowns + Planned EOM - Planned BOM
2.5% per month
net sales
OTB (retail)
588 mph
33. accounts receivable/ average daily sales
physical inventory
FOB destination
Average Collection Turnover
cost of goods sold formula (COGS)
34. A plane flies 980 miles in 1 2/3 hours. How many miles does the plane average per hour
Mark Up %
Break Even Point
income statement
588 mph
35. cash + receivables/ current liabilities.
profit
Margin %
Unit pricing
Quick Ratio
36. $ Cost/ (100%-markup%)
$ Retail
to determine equivalent single discount rate for 25/10/10 series discount
Effective annual rate of interest formula
Subtracting Fractions
37. Accounts receivable - buildings - cash - copyrights - equiptment - furniture and fixtures - land - tomor vehicles
types of assets
Break Even Point
% increase or decrease
per hundred
38. $ Cost x (100 + Mark-up %) / 100
$ Retail
cost of goods sold formula (COGS)
Liquidity
EOM (in terms of invoice)
39. Inside numbers in a ratio.
Unit pricing
Break Even Point Formula
Means
Stock to Sales Ratio
40. The recommended house payment should be no more than _% of your monthly take-home pay.
percent
$ Cost
increase=debit
25
41. current assets/ current liabilities
$ Retail
COD
types of capital
Current Ratio
42. Convert 56% to a decimal
types of expenses
.56
Break Even Point Formula
percent
43. Divide the result by 1+the increase proportion eg) X=16/(1+0.25) = 12.8 - 16 is a 25% increase over 12.8
Of what number 16 is a 25% increase
net sales
25
% increase or decrease
44. Sales - cost of goods sold
COD
588 mph
Average Daily Sales
Gross margin dollars
45. Convert 1/4 to a percent
cost of goods sold formula (COGS)
Cost
25%
When Dividing With Exponents
46. 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...
125%
FOB destination
15
operating expenses
47. 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
Break Even Point
Mark Up %
Margin %
steps in strategic planning
48. A/b - c/b = a-c/b
Subtracting Fractions
steps in strategic planning
profit
Simple interest formula
49. Convert 41/100 to a percent
Subtracting Fractions
41%
When Dividing With Exponents
$ Cost
50. Divide the result by 1-the decrease proportion - eg) X=16/(1-0.25)=21.33 - 16 is a 25% decrease of 21.33
Average Collection Turnover
25%
ROG
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?