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






2. Multiply the number by 1+the increase proportion - e.g. 16(1+0.25) = 161.25 = 20 - 20 is a 25% increase over 16






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






4. 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






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






6. Convert 70% to a decimal






7. Convert 20 to a percent






8. A/b






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






10. total fixed costs/ selling price-variable cost






11. $ Cost/ (100%-markup%)






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






13. A/b - c/b = a-c/b






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






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






16. current assets/ current liabilities






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






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






19. Commissions - fees for service - merchandise sales - rental income - royalties






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






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






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






23. Total Net Sales / Total Number of Transactions






24. 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






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. Turning assets into cash.






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






28. Original retail price - Lower retail price






29. Outside numbers in a ratio.






30. Wholesale cost






31. A/b






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






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






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






35. Convert .62 to a percent






36. Convert 1/4 to a percent






37. Two equivalent ratios joined by an equal sign.






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






39. total annual sales/365






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






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






42. Rose borrowed money to buy a ring priced at $420. When she repaid the loan at the end of 3 months - the interest charge was $31.50. What was the rate of interest?






43. He availability of your money is called _.






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






45. 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%






46. Convert 65% to a decimal






47. (Retail - Cost)/ Retail






48. Convert 1.25 to a percent






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






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






Can you answer 50 questions in 15 minutes?



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