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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. (Retail - Cost)/ Retail






2. 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






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






4. Alignment of the decimals is not important






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






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






7. Convert 10/11 to a percent






8. Convert 20 to a percent






9. 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)






10. 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






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






12. BOM $ Stock/ Sales for period






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






14. Convert 3 to a percent






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






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






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






18. What is the product of 3.26 and 0.4?






19. The wholesale cost of goods plus the markup






20. 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)






21. Convert 1/4 to a percent






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






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






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






25. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






26. The point at which you stop losing money.






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






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






29. 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)






30. current assets/ current liabilities






31. total annual sales/365






32. Convert 50% to a fraction






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






34. Gross Margin/ Average Inventory Cost






35. Outside numbers in a ratio.






36. Liabilities - capital - income






37. Turning assets into cash.






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






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






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






41. Inside numbers in a ratio.






42. cash + receivables/ current liabilities.






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






44. Convert .4 to a percent






45. Convert 56% to a decimal






46. The cost of moving from the vendor's warehouse (loading dock) to the retail warehouse or store (loading dock) - may also include insurance to cover the merchandise while in transit






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






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






49. Convert 70% to a decimal






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