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






2. Convert 56% to a decimal






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






4. Two equivalent ratios joined by an equal sign.






5. Convert 10/11 to a percent






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






7. Convert 70% to a decimal






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






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






10. Total Net Sales / Total Number of Transactions






11. Loss of items due to damaged goods - stealing - etc.






12. 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...






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






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






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






16. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






17. Convert 1.25 to a percent






18. Net Sales / Average Retail Value of Inventory






19. Convert 20 to a percent






20. 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






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






22. Turning assets into cash.






23. cash + receivables/ current liabilities.






24. Convert 14% to a fraction






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






26. Convert 1/4 to a percent






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






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






29. Beginning inventory + Purchases - Ending inventory






30. 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






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






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






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






34. 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






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






36. 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






37. Convert 70/100 to a percent






38. Net Sales for period/ Avg Stock for period






39. He availability of your money is called _.






40. S=X+nrX Where: X=the original sum invested r=the interest rate (as a proportion - e.g. 0.05=5%) n=the number of periods S=the sum invested after n periods (capital + interest) - e.g. invest $1000 @ 10% simple interest for 5 years = 1000+(50.101000)






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






42. 1. develop a vision statement for the company - 2. scan the internal and external environments - 3. determine issues critical to the company - 4. select the problem to be solved - 5. determine the specific strategy to achieve the solution - 6. identi






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






44. current assets/ current liabilities






45. 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?






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






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






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






49. Convert 80% to a fraction






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







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Can you answer 50 questions in 15 minutes?


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