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






2. 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?






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






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






5. Convert .36 to a percent






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






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






8. Inside numbers in a ratio.






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






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






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






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






13. The wholesale cost of goods plus the markup






14. Amount decrease (Original - New) / Original amount = decimal= convert to %






15. Net Sales for period/ Avg Stock for period






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






17. 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.






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






19. 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)






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






21. Convert 1.25 to a percent






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






23. What does percent mean?






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






25. Wholesale cost






26. Gross Margin/ Average Inventory Cost






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






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






29. Net Sales / Average Retail Value of Inventory






30. cash + receivables/ current liabilities.






31. Convert 56% to a decimal






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






33. Convert .62 to a percent






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. Convert 80% to a fraction






36. current assets/ current liabilities






37. Use compliments - Step 1 Find compliments 25% = 100-25%= 75% - 10%= 90% - 10%=90% Step 2 Multiple Compliments 75%x90%x90% .75x.90x.90= .6075 Step 3 Convert to Percentage .6075= 60.75% Step 4 Compliment it 100%-60.75%= 39.35%






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






39. Beginning inventory + Purchases - Ending inventory






40. Multiply the number by 1-the decrease proportion - e.g. 16(1-0.25) = 160.75 = 12 - 12 is a 25% decrease of 16






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






42. He availability of your money is called _.






43. Assets - cost of goods sold - expenses






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






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






46. Turning assets into cash.






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






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






49. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






50. Another way of counting part of a whole?