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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. 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?






2. Start with list price - List price: $6400 x 25% - x 10% - x10% % - Taken one after another(subtract)






3. current assets/ current liabilities






4. BOM $ Stock/ Sales for period






5. Convert 1.25 to a percent






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






7. A/b






8. cash + receivables/ current liabilities.






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






10. Convert .4 to a percent






11. Convert 70/100 to a percent






12. 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






13. Convert 3 to a percent






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






15. Convert 50% to a fraction






16. The wholesale cost of goods plus the markup






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






18. 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)






19. 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






20. Original retail price - Lower retail price






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






22. Convert 56% to a decimal






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






24. $ retail x (100%-markup)






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






26. Convert .36 to a percent






27. 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%






28. Outside numbers in a ratio.






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






30. 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...






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






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






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






34. Assets - cost of goods sold - expenses






35. Net Sales / Average Retail Value of Inventory






36. Convert 70% to a decimal






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






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






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






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






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






42. Convert 80% to a fraction






43. The point at which you stop losing money.






44. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






45. 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






46. Convert 14% to a fraction






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






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






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






50. Date of invoice - the cash discount terms will have no dating within the discount statement; ex: 4/10 - n/30







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Can you answer 50 questions in 15 minutes?


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