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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 10/11 to a percent






2. cash + receivables/ current liabilities.






3. What does percent mean?






4. 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%






5. 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






6. Alignment of the decimals is not important






7. Sales - cost of goods sold






8. (Retail - Cost)/ Retail






9. 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)






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






11. Convert .62 to a percent






12. total annual sales/365






13. Convert 70/100 to a percent






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






15. 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?






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






17. 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






18. A/b






19. Gross Margin/ Average Inventory Cost






20. 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






21. 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






22. 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)






23. Original retail price - Lower retail price






24. Beginning inventory + Purchases - Ending inventory






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






26. Net Sales / Average Retail Value of Inventory






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






28. Convert 80% to a fraction






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






30. Convert 20 to a percent






31. Total Net Sales / Total Number of Transactions






32. 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






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






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






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






36. Convert 1.25 to a percent






37. A/b + c/b = (a+c)/b






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






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






40. Inside numbers in a ratio.






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






42. Two equivalent ratios joined by an equal sign.






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






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






45. 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.






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






47. GMROII = GM% x (Sales / Average Value of Inventory)






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






49. 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






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







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Can you answer 50 questions in 15 minutes?


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