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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. 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)






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






3. Convert 70/100 to a percent






4. Wholesale cost






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






6. Sales - cost of goods sold






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






8. Multiply the number by 1-the decrease proportion - e.g. 16(1-0.25) = 160.75 = 12 - 12 is a 25% decrease of 16






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






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. Outside numbers in a ratio.






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






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






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






15. 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%






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






17. Inside numbers in a ratio.






18. What is the product of 3.26 and 0.4?






19. Another way of counting part of a whole?






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






21. The wholesale cost of goods plus the markup






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






23. What does percent mean?






24. Convert 3 to a percent






25. Two equivalent ratios joined by an equal sign.






26. Convert 14% to a fraction






27. total annual sales/365






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






29. 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.






30. The point at which you stop losing money.






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






32. 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?






33. total fixed costs/ selling price-variable cost






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






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






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






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






38. % of 90 days same as cash convert to payments.






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






40. He availability of your money is called _.






41. accounts receivable/ average daily sales






42. Net Sales for period/ Avg Stock for period






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






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






45. Liabilities - capital - income






46. Assets - cost of goods sold - expenses






47. current assets/ current liabilities






48. GMROII = GM% x (Sales / Average Value of Inventory)






49. Convert .36 to a percent






50. Original retail price - Lower retail price