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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. The wholesale cost of goods plus the markup






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






3. $ retail x (100%-markup)






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






5. GMROII = GM% x (Sales / Average Value of Inventory)






6. Convert 1/4 to a percent






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






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






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






10. 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






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. Convert 65% to a decimal






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






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






15. Alignment of the decimals is not important






16. Wholesale cost






17. cash + receivables/ current liabilities.






18. Convert .4 to a percent






19. 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?






20. Convert 20 to a percent






21. Original retail price - Lower retail price






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






23. 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






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






25. Convert .36 to a percent






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






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






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






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






30. 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%






31. Convert 1.25 to a percent






32. Convert 70/100 to a percent






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






34. Convert 56% to a decimal






35. Convert 80% to a fraction






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






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






38. Total Net Sales / Total Number of Transactions






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






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






41. total fixed costs/ selling price-variable cost






42. Receipt of goods; the cash discount period and net period begin with the date of receipt of goods; ex: 8/10 ROG - n/30






43. Convert 50% to a fraction






44. 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.






45. 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






46. A/b






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






48. Convert 14% to a fraction






49. Planned Sales + Planned Markdowns + Planned EOM - Planned BOM






50. (Retail - Cost)/ Retail