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






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






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






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






5. 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%






6. 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






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






8. 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...






9. 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






10. Convert 70% to a decimal






11. A/b






12. Assets - cost of goods sold - expenses






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






14. The point at which you stop losing money.






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






16. Convert 70/100 to a percent






17. 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






18. Net Sales / Average Retail Value of Inventory






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






20. Convert 80% to a fraction






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






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






23. Inside numbers in a ratio.






24. total fixed costs/ selling price-variable cost






25. 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






26. 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)






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






28. 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






29. Total Net Sales / Total Number of Transactions






30. 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






31. BOM $ Stock/ Sales for period






32. Liabilities - capital - income






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






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






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






36. Convert 56% to a decimal






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






38. 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?






39. 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?






40. To take advantage of the 6% cash discount - a retailer made a $2 -000 partial payment during the discount period. How much was the retailer credited for the $2 -000 partial payment?






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






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






43. 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






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






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






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






47. total annual sales/365






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






49. Convert .36 to a percent






50. Convert 65% to a decimal