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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. Advertising - bad debt expense - conributions and donations - depreciation - educational expense - insurance - interest expense - licenses - office supplies - postage - rent - repairs - salaries and wages - supplies - taxes - travel and transportatio






2. total fixed costs/ selling price-variable cost






3. Convert 14% to a fraction






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






5. 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)






6. 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






7. $ Cost x (100 + Mark-up %) / 100






8. 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.






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






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






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






12. Convert .4 to a percent






13. Convert 70% to a decimal






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






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






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






17. total annual sales/365






18. Gross Margin/ Average Inventory Cost






19. Convert 65% to a decimal






20. 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






21. 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?






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






23. 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)






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






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






26. Two equivalent ratios joined by an equal sign.






27. Beginning inventory + Purchases - Ending inventory






28. A/b






29. What is the product of 3.26 and 0.4?






30. Net Sales / Average Retail Value of Inventory






31. Another way of counting part of a whole?






32. 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






33. Convert 50% to a fraction






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






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






36. 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...






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






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






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






40. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






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






42. Convert .62 to a percent






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






44. $ retail x (100%-markup)






45. 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






46. Assets - cost of goods sold - expenses






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






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






49. Liabilities - capital - income






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






Can you answer 50 questions in 15 minutes?



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