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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 1.25 to a percent






2. 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%






3. cost of an item expressed per unit of measure or count.






4. 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






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






6. (Retail - Cost)/ Retail






7. Net Sales / Average Retail Value of Inventory






8. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






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






10. Convert 41/100 to a percent






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






12. 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






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






14. Beginning inventory + Purchases - Ending inventory






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






16. 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)






17. Original retail price - Lower retail price






18. You should never take out more than a _ year mortgage.






19. Wholesale cost






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






21. Units Sold/ (Units Sold + On Hand Inventory)






22. Net Sales for period/ Avg Stock for period






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






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






25. Convert 70/100 to a percent






26. Inside numbers in a ratio.






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






28. Alignment of the decimals is not important






29. The point at which you stop losing money.






30. What is the product of 3.26 and 0.4?






31. Total Net Sales / Total Number of Transactions






32. Convert 80% to a fraction






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






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






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






36. A/b






37. 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






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






39. Turning assets into cash.






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






41. total annual sales/365






42. BOM $ Stock/ Sales for period






43. Convert 10/11 to a percent






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






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






46. Convert 70% to a decimal






47. A^m/a^n = a^(m-n)






48. 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?






49. 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






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