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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. Another way of counting part of a whole?






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






3. Convert .4 to a percent






4. 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?






5. Outside numbers in a ratio.






6. Turning assets into cash.






7. 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)






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






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






10. Convert 80% to a fraction






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






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






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






14. He availability of your money is called _.






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






16. 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?






17. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






18. A/b






19. Convert 20 to a percent






20. BOM $ Stock/ Sales for period






21. 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?






22. The wholesale cost of goods plus the markup






23. Convert 14% to a fraction






24. The recommended house payment should be no more than _% of your monthly take-home pay.






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






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






27. Sales - cost of goods sold






28. Convert 1.25 to a percent






29. 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






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






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






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






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






34. Cash or assets that can quickly be converted into cash.






35. Multiply the number by 1+the increase proportion - e.g. 16(1+0.25) = 161.25 = 20 - 20 is a 25% increase over 16






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






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






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






39. Assets - cost of goods sold - expenses






40. Gross Margin/ Average Inventory Cost






41. Convert 70/100 to a percent






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






43. 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






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






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






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






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






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






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






50. Original retail price - Lower retail price






Can you answer 50 questions in 15 minutes?



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