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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. Convert .62 to a percent






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






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






4. Alignment of the decimals is not important






5. What is the product of 3.26 and 0.4?






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






7. Two equivalent ratios joined by an equal sign.






8. Convert 3 to a percent






9. Assets - cost of goods sold - expenses






10. Convert 10/11 to a percent






11. Convert 65% to a decimal






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






13. 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?






14. 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...






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






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






17. After all discounts have been applied to find net amount due. $100 -25% less trade discount -4% cash discount # + $20 freight!






18. Convert 70% to a decimal






19. 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






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






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






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






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






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






25. 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)






26. A/b






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






28. Original retail price - Lower retail price






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






30. cash + receivables/ current liabilities.






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






32. Convert 41/100 to a percent






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






34. 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






35. (TY-LY)/ LY or (Plan-Actual)/






36. Convert 20 to a percent






37. The point at which you stop losing money.






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






39. Convert .4 to a percent






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






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






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






43. Net Sales / Average Retail Value of Inventory






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






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






46. Beginning inventory + Purchases - Ending inventory






47. Advertising - bad debt expense - conributions and donations - depreciation - educational expense - insurance - interest expense - licenses - office supplies - postage - rent - repairs - salaries and wages - supplies - taxes - travel and transportatio






48. Liabilities - capital - income






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






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







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Can you answer 50 questions in 15 minutes?


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