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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. What is the product of 3.26 and 0.4?






2. 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)






3. Outside numbers in a ratio.






4. 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.






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






6. Beginning inventory + Purchases - Ending inventory






7. Convert 14% to a fraction






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






9. 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






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






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






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






14. Convert 56% to a decimal






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






16. Convert .36 to a percent






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






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






19. 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






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






21. The wholesale cost of goods plus the markup






22. (TY-LY)/ LY or (Plan-Actual)/






23. Two equivalent ratios joined by an equal sign.






24. Original retail price - Lower retail price






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






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






27. 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?






28. Convert .62 to a percent






29. Convert 50% to a fraction






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






31. Convert 65% to a decimal






32. total annual sales/365






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






34. What does percent mean?






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






36. Alignment of the decimals is not important






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






38. Convert 20 to a percent






39. 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%






40. cash + receivables/ current liabilities.






41. The point at which you stop losing money.






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






43. A/b






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






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






46. Convert 80% to a fraction






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






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






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






50. Another way of counting part of a whole?