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






2. Convert .36 to a percent






3. Sales - cost of goods sold






4. What does percent mean?






5. A plane flies 980 miles in 1 2/3 hours. How many miles does the plane average per hour






6. Capital stock - owner's equity (owner's funds invested in the business)






7. 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.






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






9. 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?






10. If freight is to be paid by the seller - the shipping terms are...






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






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






13. current assets/ current liabilities






14. Wholesale cost






15. $ Cost/ (100%-markup%)






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






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






18. A/b






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






20. 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)






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






22. 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






23. The point at which you stop losing money.






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






25. Two equivalent ratios joined by an equal sign.






26. A count of every item on the floor - in stock rooms - warehouse - etc. to determine whether shortages or overages are occuring






27. Convert 20 to a percent






28. Liabilities - capital - income






29. Convert 1/4 to a percent






30. Assets - cost of goods sold - expenses






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






32. 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






33. 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






34. Convert 3 to a percent






35. Convert 1.25 to a percent






36. Beginning inventory + Purchases - Ending inventory






37. Convert 80% to a fraction






38. Gross Margin/ Average Inventory Cost






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






40. Convert 50% to a fraction






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






42. Convert 70/100 to a percent






43. Another way of counting part of a whole?






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






45. Convert 10/11 to a percent






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






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






48. Gross margin dollars/Net sales dollars (multiply by 100 to express as percentage) or (Selling price - cost) x 100 / Selling price






49. Net Sales / Average Retail Value of Inventory






50. Convert .4 to a percent