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






2. Convert 10/11 to a percent






3. Gross Margin/ Average Inventory Cost






4. ($ Retail x 100 / COST) - 100






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






6. Sales - cost of goods sold






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






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






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






10. Convert 1/4 to a percent






11. Convert 50% to a fraction






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






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






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






15. Convert 70/100 to a percent






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






17. 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%






18. 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






19. Convert .36 to a percent






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






21. He availability of your money is called _.






22. Assets - cost of goods sold - expenses






23. Alignment of the decimals is not important






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






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






26. A/b






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






28. What is the product of 3.26 and 0.4?






29. Convert 14% to a fraction






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






31. Convert 80% to a fraction






32. total fixed costs/ selling price-variable cost






33. Convert 1.25 to a percent






34. After all discounts have been applied to find net amount due. $100 -25% less trade discount -4% cash discount # + $20 freight!






35. Original retail price - Lower retail price






36. cash + receivables/ current liabilities.






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






38. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






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






40. X=S*[1/(1+r)^n] Where: S=the sum to be received after n time periods X=the present value of that sum r=the rate of return (as a proportion) n=the number of time periods - r - rate - is sometimes called cost of capital






41. Convert 20 to a percent






42. Convert 56% to a decimal






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






44. The wholesale cost of goods plus the markup






45. A/b + c/b = (a+c)/b






46. 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?






47. Convert 65% to a decimal






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






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






50. 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)