SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
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. Convert 10/11 to a percent
profit
90.9%
.7
78
2. cash + receivables/ current liabilities.
Average Daily Sales
Break Even Point Formula
Quick Ratio
36%
3. What does percent mean?
per hundred
GMROI
78
underbought
4. Use compliments - Step 1 Find compliments 25% = 100-25%= 75% - 10%= 90% - 10%=90% Step 2 Multiple Compliments 75%x90%x90% .75x.90x.90= .6075 Step 3 Convert to Percentage .6075= 60.75% Step 4 Compliment it 100%-60.75%= 39.35%
underbought
Discounting Formula
to determine equivalent single discount rate for 25/10/10 series discount
physical inventory
5. 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
Break Even Point
types of expenses
Turnover
DOI
6. Alignment of the decimals is not important
Turnover
gross sales
Effective annual rate of interest formula
when multiplying numbers that contain decimals:
7. Sales - cost of goods sold
Gross margin dollars
Markdown %
profit and loss statement
125%
8. (Retail - Cost)/ Retail
types of liabilities
90.9%
Mark Up %
Margin %
9. S=X+nrX Where: X=the original sum invested r=the interest rate (as a proportion - e.g. 0.05=5%) n=the number of periods S=the sum invested after n periods (capital + interest) - e.g. invest $1000 @ 10% simple interest for 5 years = 1000+(50.101000)
Break Even Point
62%
Simple interest formula
25%
10. Another name for the P & L statement mainly used by managers planning sales or accountants formulating analyses
Liquidity of Assets
income statement
$ Cost
36%
11. Convert .62 to a percent
62%
Turnover
$ Cost
15
12. total annual sales/365
Gross Margin Return On Inventory Investment (GMROII)
Average Daily Sales
types of assets
DOI
13. Convert 70/100 to a percent
20%
70%
Proportion
Mark Up %
14. After 4 years - $5 -000 will grow to how much if it earns 10% interest?
costs of goods sold
net sales
62%
$6 -655.50
15. 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?
Gross margin %
2.5% per month
Effective annual rate of interest formula
3%
16. The average car will lose _% of its value in the first 4 years.
increase=debit
60
loss
62%
17. 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
Liquidity of Assets
Subtracting Fractions
Discounting Formula
.56
18. A/b
15
ROG
Compound interest formula with changing rates
Multiplying Fractions
19. Gross Margin/ Average Inventory Cost
Break Even Point
GMROI
Internal Rate of Return
gross margin
20. 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
Unit pricing
$252
shrinkage
steps in strategic planning
21. 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
installment loan
80/100
The sum of a Geometric Progression
62%
22. 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)
Internal Rate of Return
net sales
Proportion
Multiplying Fractions
23. Original retail price - Lower retail price
loss
shrinkage
installment loan
$ Markdown
24. Beginning inventory + Purchases - Ending inventory
cost of goods sold formula (COGS)
$252
When Dividing With Exponents
Break Even Point Formula
25. Formula: GM = NS - COG; GM$ = NS$ X GM%
gross margin
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
cost of goods
Discounting Formula
26. Net Sales / Average Retail Value of Inventory
Proportion
Inventory Turnover Rate
Current Assets
$252
27. What happens when your sales are higher than your expenses - etc.
profit
percent
36%
62%
28. Convert 80% to a fraction
3%
80/100
36%
Adding Fractions
29. S=X(1+r1)^y(1+r
overbought
Compound interest formula with changing rates
$252
20%
30. Convert 20 to a percent
20%
.7
62%
transportation
31. Total Net Sales / Total Number of Transactions
Sales per Transaction
physical inventory
50/100
Markup
32. 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
36%
cost of goods
COD
to determine equivalent single discount rate for 25/10/10 series discount
33. You should never take out more than a _ year mortgage.
$ COST
Compound interest formula with changing rates
Markup
15
34. When slaes plans are overestimated and the stock purchases result in a stockpiled inventory
16-18
.56
$ Retail
overbought
35. Units Sold/ (Units Sold + On Hand Inventory)
588 mph
62%
Dividing Fractions
Sell Thru %
36. Convert 1.25 to a percent
62%
$6 -655.50
125%
Gross Margin Return On Inventory Investment (GMROII)
37. A/b + c/b = (a+c)/b
Adding Fractions
Dividing Fractions
588 mph
types of liabilities
38. $ Cost/ (100%-markup%)
Gross Margin Return On Inventory Investment (GMROII)
$ Retail
Break Even Point Formula
36%
39. ($ Retail x 100 / COST) - 100
Mark Up %
Unit pricing
1.304
Margin %
40. Inside numbers in a ratio.
Means
improper
To increase a number by a given percentage - e.g. increase 16 by 25%
Gross Margin Return On Inventory Investment (GMROII)
41. After all discounts have been applied to find net amount due. $100 -25% less trade discount -4% cash discount # + $20 freight!
Multiplying Fractions
Inventory Turnover Rate
With cash discounts and calculating net price - when to add freight
percent
42. Two equivalent ratios joined by an equal sign.
steps in strategic planning
shrinkage
4%
Proportion
43. A plane flies 980 miles in 1 2/3 hours. How many miles does the plane average per hour
gross sales
Sales per Transaction
Gross margin dollars
588 mph
44. cost of an item expressed per unit of measure or count.
installment loan
Markup
Unit pricing
14/100
45. 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.
Average Collection Turnover
3%
steps in strategic planning
net sales
46. A/b - c/b = a-c/b
Subtracting Fractions
% increase or decrease
Discounting Formula
DOI
47. GMROII = GM% x (Sales / Average Value of Inventory)
Sell Thru %
transportation
types of assets
Gross Margin Return On Inventory Investment (GMROII)
48. The average car payment is $_ per month for _ months.
378 63
operating expenses
shrinkage
percent
49. 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
transportation
improper
gross sales
62%
50. Start with list price - List price: $6400 x 25% - x 10% - x10% % - Taken one after another(subtract)
netprice with a 25/10/10 series discount
Sales per Transaction
$ Cost
60
Sorry!:) No result found.
Can you answer 50 questions in 15 minutes?
Let me suggest you:
Browse all subjects
Browse all tests
Most popular tests
Major Subjects
Tests & Exams
AP
CLEP
DSST
GRE
SAT
GMAT
Certifications
CISSP go to https://www.isc2.org/
PMP
ITIL
RHCE
MCTS
More...
IT Skills
Android Programming
Data Modeling
Objective C Programming
Basic Python Programming
Adobe Illustrator
More...
Business Skills
Advertising Techniques
Business Accounting Basics
Business Strategy
Human Resource Management
Marketing Basics
More...
Soft Skills
Body Language
People Skills
Public Speaking
Persuasion
Job Hunting And Resumes
More...
Vocabulary
GRE Vocab
SAT Vocab
TOEFL Essential Vocab
Basic English Words For All
Global Words You Should Know
Business English
More...
Languages
AP German Vocab
AP Latin Vocab
SAT Subject Test: French
Italian Survival
Norwegian Survival
More...
Engineering
Audio Engineering
Computer Science Engineering
Aerospace Engineering
Chemical Engineering
Structural Engineering
More...
Health Sciences
Basic Nursing Skills
Health Science Language Fundamentals
Veterinary Technology Medical Language
Cardiology
Clinical Surgery
More...
English
Grammar Fundamentals
Literary And Rhetorical Vocab
Elements Of Style Vocab
Introduction To English Major
Complete Advanced Sentences
Literature
Homonyms
More...
Math
Algebra Formulas
Basic Arithmetic: Measurements
Metric Conversions
Geometric Properties
Important Math Facts
Number Sense Vocab
Business Math
More...
Other Major Subjects
Science
Economics
History
Law
Performing-arts
Cooking
Logic & Reasoning
Trivia
Browse all subjects
Browse all tests
Most popular tests