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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. Total Net Sales / Total Number of Transactions






2. 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.






3. current assets/ current liabilities






4. total annual sales/365






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






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






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






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






9. He availability of your money is called _.






10. Net Sales for period/ Avg Stock for period






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






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






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






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






15. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






16. To take advantage of the 6% cash discount - a retailer made a $2 -000 partial payment during the discount period. How much was the retailer credited for the $2 -000 partial payment?






17. (Retail - Cost)/ Retail






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






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






20. Original retail price - Lower retail price






21. Convert 70% to a decimal






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






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






24. Net Sales / Average Retail Value of Inventory






25. 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






26. Two equivalent ratios joined by an equal sign.






27. 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)






28. 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?






29. 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






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






31. The point at which you stop losing money.






32. Assets - cost of goods sold - expenses






33. Convert 50% to a fraction






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






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






36. Convert 41/100 to a percent






37. A/b






38. accounts receivable/ average daily sales






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






40. Convert .62 to a percent






41. Convert 3 to a percent






42. Wholesale cost






43. Convert 56% to a decimal






44. Turning assets into cash.






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






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






47. 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)






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






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






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







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