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






2. Liabilities - capital - income






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






4. BOM $ Stock/ Sales for period






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






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






7. (Retail - Cost)/ Retail






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






9. 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






10. Convert 20 to a percent






11. Total Net Sales / Total Number of Transactions






12. 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






13. cash + receivables/ current liabilities.






14. 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?






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






16. Convert .62 to a percent






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






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






19. Outside numbers in a ratio.






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






21. 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%






22. 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






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






24. Another way of counting part of a whole?






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






26. Beginning inventory + Purchases - Ending inventory






27. Formula: GM = NS - COG; GM$ = NS$ X GM%






28. Two equivalent ratios joined by an equal sign.






29. $ RETAIL X (100 - GM %) / 100






30. Net Sales for period/ Avg Stock for period






31. Net Sales / Average Retail Value of Inventory






32. 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






33. Convert .4 to a percent






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






35. To take advantage of the 6% cash discount - a retailer made a $2 -000 partial payment during the discount period. How much was the retailer credited for the $2 -000 partial payment?






36. He availability of your money is called _.






37. Units Sold/ (Units Sold + On Hand Inventory)






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






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






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






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






42. Convert 14% to a fraction






43. A/b






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






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






46. Convert 56% to a decimal






47. Original retail price - Lower retail price






48. $ retail x (100%-markup)






49. Convert 70% to a decimal






50. Convert .36 to a percent