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Can you answer 50 questions in 15 minutes?







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AP
CLEP
DSST
GRE
SAT
GMAT

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PMP
ITIL
RHCE
MCTS
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Test your basic knowledge |

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






2. Convert 70/100 to a percent






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






4. A/b






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






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






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






8. Total Net Sales / Total Number of Transactions






9. Net Sales / Average Retail Value of Inventory






10. A/b + c/b = (a+c)/b






11. 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






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






13. The point at which you stop losing money.






14. End of month; dating starts with the end of the month and the invoice is to be paid within the specified number of days after the end of the month in which goods are invoiced; ex: 8/10 EOM - n/90






15. 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






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






17. Convert .4 to a percent






18. Assets - cost of goods sold - expenses






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






20. Turning assets into cash.






21. Two equivalent ratios joined by an equal sign.






22. Net Sales for period/ Avg Stock for period






23. Convert 1/4 to a percent






24. Convert 56% to a decimal






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






26. Original retail price - Lower retail price






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






28. 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






29. The sum of the cost of doing business - except the cost of goods; they include such items as sales persons' salaries - bags - paper and pencils - and cleaning of carpets...






30. Formula: GM = NS - COG; GM$ = NS$ X GM%






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






32. The wholesale cost of goods plus the markup






33. Convert 3 to a percent






34. 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






35. Convert 41/100 to a percent






36. Convert 1.25 to a percent






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






38. A value or an expression of how fast merchandise moves through the store; also called turn. formula: turn - NS$ / Average Stock$ (average stock$ = BOM$ + EOM$)/(#BOM + 1)






39. total fixed costs/ selling price-variable cost






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






41. Convert 70% to a decimal






42. 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)






43. Alignment of the decimals is not important






44. Outside numbers in a ratio.






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






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






47. Liabilities - capital - income






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






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