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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. Convert .36 to a percent






2. Convert 3 to a percent






3. Divide the result by 1-the decrease proportion - eg) X=16/(1-0.25)=21.33 - 16 is a 25% decrease of 21.33






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






5. total annual sales/365






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






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






8. total fixed costs/ selling price-variable cost






9. Liabilities - capital - income






10. Convert 41/100 to a percent






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






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






13. The wholesale cost of goods plus the markup






14. When refunds or retail price reductions are given to customers - these activities reduce the value of this (also known as initial sales). formula: GS = NS + RED; GS$ = NS$ X GS%






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






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






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






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






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






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






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






22. Total Net Sales / Total Number of Transactions






23. Wholesale cost






24. Convert .62 to a percent






25. A/b






26. 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






27. BOM $ Stock/ Sales for period






28. Sales - cost of goods sold






29. Convert 65% to a decimal






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






31. Convert 1/4 to a percent






32. 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...






33. Divide the result by 1+the increase proportion eg) X=16/(1+0.25) = 12.8 - 16 is a 25% increase over 12.8






34. Convert 14% to a fraction






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






36. Convert .4 to a percent






37. Convert 56% to a decimal






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






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






40. Assets - cost of goods sold - expenses






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






42. Alignment of the decimals is not important






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






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






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






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






47. Convert 50% to a fraction






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






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






50. 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