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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. 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






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






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






4. Start with list price - List price: $6400 x 25% - x 10% - x10% % - Taken one after another(subtract)






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






6. Convert .36 to a percent






7. Convert 80% to a fraction






8. $ RETAIL X (100 - GM %) / 100






9. Inside numbers in a ratio.






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






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






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






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






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






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






16. Convert 20 to a percent






17. When slaes plans are overestimated and the stock purchases result in a stockpiled inventory






18. The wholesale cost of goods plus the markup






19. $ Cost x (100 + Mark-up %) / 100






20. The average car payment is $_ per month for _ months.






21. Convert 70% to a decimal






22. 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






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






24. Convert .62 to a percent






25. accounts receivable/ average daily sales






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






27. Another way of counting part of a whole?






28. After 4 years - $5 -000 will grow to how much if it earns 10% interest?






29. The point at which you stop losing money.






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






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






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






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






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






35. BOM $ Stock/ Sales for period






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






37. Convert 14% to a fraction






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






39. 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.






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






41. Convert 65% to a decimal






42. 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






43. The difference between the retail price and the cost of goods sold; it includes operating expenses - retail reductions - and profit






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






45. Turning assets into cash.






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






47. 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%






48. Convert 70/100 to a percent






49. 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?






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






Can you answer 50 questions in 15 minutes?



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