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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. The average car will lose _% of its value in the first 4 years.






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






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






5. Original retail price - Lower retail price






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






7. Convert .4 to a percent






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






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






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






11. A/b






12. Total Net Sales / Total Number of Transactions






13. The wholesale cost of an item (cost of goods - or COG)






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






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






16. 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)






17. Convert .36 to a percent






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






19. Wholesale cost






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






21. He availability of your money is called _.






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






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






24. 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.






25. total fixed costs/ selling price-variable cost






26. Turning assets into cash.






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






28. Two equivalent ratios joined by an equal sign.






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






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






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






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






33. accounts receivable/ average daily sales






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






35. cash + receivables/ current liabilities.






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






37. Accounts receivable - buildings - cash - copyrights - equiptment - furniture and fixtures - land - tomor vehicles






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






39. Inside numbers in a ratio.






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






41. current assets/ current liabilities






42. Convert 56% to a decimal






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






44. Sales - cost of goods sold






45. Convert 1/4 to a percent






46. 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...






47. 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






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






49. Convert 41/100 to a percent






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