## Test your basic knowledge |

# 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. 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%**

**2. The average person will have _ jobs in their lifetime.**

**3. Assets - cost of goods sold - expenses**

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

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

**6. (TY-LY)/ LY or (Plan-Actual)/**

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

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

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

**10. Loss of items due to damaged goods - stealing - etc.**

**11. $ retail x (100%-markup)**

**12. Sales - cost of goods sold**

**13. Convert 3 to a percent**

**14. The wholesale cost of goods plus the markup**

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

**16. Convert 14% to a fraction**

**17. Net Sales for period/ Avg Stock for period**

**18. BOM $ Stock/ Sales for period**

**19. Direct labor - factory overhead - merchandise inventory - packaging - raw material**

**20. 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**

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

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

**23. Convert .36 to a percent**

**24. ($ Retail x 100 / COST) - 100**

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

**26. Date of invoice - the cash discount terms will have no dating within the discount statement; ex: 4/10 - n/30**

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

**28. 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**

**29. Inside numbers in a ratio.**

**30. Wholesale cost**

**31. Convert .62 to a percent**

**32. accounts receivable/ average daily sales**

**33. Planned Sales + Planned Markdowns + Planned EOM - Planned BOM**

**34. Outside numbers in a ratio.**

**35. Liabilities - capital - income**

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

**37. Total Net Sales / Total Number of Transactions**

**38. total fixed costs/ selling price-variable cost**

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

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

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

**42. 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?**

**43. Convert .4 to a percent**

**44. Convert 10/11 to a percent**

**45. Convert 56% to a decimal**

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

**47. A count of every item on the floor - in stock rooms - warehouse - etc. to determine whether shortages or overages are occuring**

**48. 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**

**49. A/b**

**50. $ Cost/ (100%-markup%)**