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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 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






2. The average car will lose _% of its value in the first 4 years.






3. Assets - cost of goods sold - expenses






4. 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






5. Convert 41/100 to a percent






6. BOM $ Stock/ Sales for period






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






8. Aka - the terminal value of an investment to which equal annual amounts will be added S=[A(R^n -1)]/R-1 Where: S=the terminal value A=the first term R=the common ratio n=the number of terms






9. Alignment of the decimals is not important






10. Inside numbers in a ratio.






11. (Retail - Cost)/ Retail






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






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






14. 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?






15. 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...






16. Sales - cost of goods sold






17. Net Sales / Average Retail Value of Inventory






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






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






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






21. Cash or assets that can quickly be converted into cash.






22. Accounts receivable - buildings - cash - copyrights - equiptment - furniture and fixtures - land - tomor vehicles






23. Convert 14% to a fraction






24. accounts receivable/ average daily sales






25. 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.






26. 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






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






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






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






30. Liabilities - capital - income






31. What does percent mean?






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






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






34. Convert 20 to a percent






35. Convert 65% to a decimal






36. Outside numbers in a ratio.






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






38. 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%






39. Convert 10/11 to a percent






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






41. Divide the result by 1+the increase proportion eg) X=16/(1+0.25) = 12.8 - 16 is a 25% increase over 12.8






42. The wholesale cost of goods plus the markup






43. total fixed costs/ selling price-variable cost






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






45. Convert 70/100 to a percent






46. Two equivalent ratios joined by an equal sign.






47. 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






48. Original retail price - Lower retail price






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






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







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