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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. Inside numbers in a ratio.






2. Convert 56% to a decimal






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






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






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






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






8. Convert 65% to a decimal






9. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






10. accounts receivable/ average daily sales






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






12. $ retail x (100%-markup)






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






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






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






16. Convert 14% to a fraction






17. 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






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






19. Outside numbers in a ratio.






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






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






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






23. Convert 1.25 to a percent






24. 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






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






26. A/b






27. Convert .62 to a percent






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






29. Alignment of the decimals is not important






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






31. 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...






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






33. Liabilities - capital - income






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






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






36. Convert 3 to a percent






37. Net Sales / Average Retail Value of Inventory






38. Convert 50% to a fraction






39. 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)






40. Direct labor - factory overhead - merchandise inventory - packaging - raw material






41. cash + receivables/ current liabilities.






42. 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%






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






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






45. 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)






46. If freight is to be paid by the seller - the shipping terms are...






47. Turning assets into cash.






48. Convert 1/4 to a percent






49. Sales - cost of goods sold






50. Convert 41/100 to a percent