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DSST Business Math
Start Test
Study First
Subjects
:
dsst
,
math
,
business-skills
,
business-math
,
bvat
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. Total Net Sales / Total Number of Transactions
book value
improper
Sales per Transaction
profit
2. (Retail - Cost)/ Retail
15
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
EOM (in terms of invoice)
Margin %
3. $ Cost x (100 + Mark-up %) / 100
underbought
overbought
$ Retail
net sales
4. Wholesale cost
when multiplying numbers that contain decimals:
25
types of capital
cost of goods
5. You should never take out more than a _ year mortgage.
net sales
shrinkage
Turnover
15
6. A/b - c/b = a-c/b
Break Even Point Formula
OTB (retail)
improper
Subtracting Fractions
7. 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.
stock turn
OTB (retail)
per hundred
net sales
8. Start with list price - List price: $6400 x 25% - x 10% - x10% % - Taken one after another(subtract)
to determine equivalent single discount rate for 25/10/10 series discount
gross margin
netprice with a 25/10/10 series discount
types of expenses
9. A^m/a^n = a^(m-n)
improper
When Dividing With Exponents
$ Retail
EOM (in terms of invoice)
10. 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%
36%
Margin %
gross sales
per hundred
11. 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?
Margin %
costs of goods sold
41%
$2 -127.66
12. The recommended house payment should be no more than _% of your monthly take-home pay.
steps in strategic planning
78
25
3%
13. Planned Sales + Planned Markdowns + Planned EOM - Planned BOM
To increase a number by a given percentage - e.g. increase 16 by 25%
OTB (retail)
Compound interest formula with changing rates
Liquidity of Assets
14. What happens when your expenses - etc. are higher than your sales
loss
increase=debit
Gross margin %
Quick Ratio
15. Divide the result by 1-the decrease proportion - eg) X=16/(1-0.25)=21.33 - 16 is a 25% decrease of 21.33
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
installment loan
Adding Fractions
percent
16. total annual sales/365
Average Daily Sales
$ Retail
25%
$252
17. A measure of the number of days needed to collect accounts receivable.
Average Collection Turnover
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
Proportion
percent
18. Convert 1/4 to a percent
$ Markdown
Current Assets
$ Retail
25%
19. 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
Of what number 16 is a 25% increase
The sum of a Geometric Progression
Cost
Dividing Fractions
20. ($ Retail x 100 / COST) - 100
Mark Up %
4%
125%
Stock to Sales Ratio
21. Cash or assets that can quickly be converted into cash.
78
% increase or decrease
With cash discounts and calculating net price - when to add freight
Current Assets
22. When sales plans are underestimated and the stock purchases result in a low inventory
50/100
underbought
Multiplying Fractions
types of liabilities
23. Another way of counting part of a whole?
Turnover
percent
Average Collection Turnover
shortage
24. total fixed costs/ selling price-variable cost
Break Even Point Formula
36%
shrinkage
Liquidity
25. $ retail x (100%-markup)
36%
gross margin
Gross margin dollars
$ Cost
26. If freight is to be paid by the seller - the shipping terms are...
FOB destination
3%
OTB (retail)
Unit pricing
27. % of 90 days same as cash convert to payments.
Adding Fractions
When Dividing With Exponents
.56
78
28. Direct labor - factory overhead - merchandise inventory - packaging - raw material
Of what number 16 is a 25% increase
costs of goods sold
when multiplying numbers that contain decimals:
$ Cost
29. Overage$ = book$ - physical count$; overage% = overage$/NS$
$ Markdown
FOB destination
overages
Sales per Transaction
30. A value or an expression of how fast merchandise moves through the store; also called turn. formula: turn - NS$ / Average Stock$ (average stock$ = BOM$ + EOM$)/(#BOM + 1)
2.5% per month
Gross margin dollars
Unit pricing
stock turn
31. Another name for the P & L statement mainly used by managers planning sales or accountants formulating analyses
Current Assets
income statement
Internal Rate of Return
gross margin
32. Gross Margin/ Average Inventory Cost
GMROI
Break Even Point
4%
Adding Fractions
33. Accounts payable - bonds - notes payable (bank loans) - provisions for pensions
The sum of a Geometric Progression
types of liabilities
costs of goods sold
Average Collection Turnover
34. Convert 56% to a decimal
ROG
Current Assets
.56
Liquidity of Assets
35. Outside numbers in a ratio.
When Dividing With Exponents
gross sales
Extremes
profit
36. S=X(1+r1)^y(1+r
Compound interest formula with changing rates
types of incomes
ROG
per hundred
37. IRR=1 + [(NPV1/NPV1-NPV2)(2-1)]% Where: 1=one interest rate 2=the other NPV1=the NPV at rate 1 NPV2=the NPV at rate 2 (NPV = Net Present Value)
Internal Rate of Return
underbought
Effective annual rate of interest formula
20%
38. Shortage$ = book$ - physical count$; shortage% = shortage$/NS$
shortage
Inventory Turnover Rate
Simple interest formula
Compound interest formula with changing rates
39. accounts receivable/ average daily sales
60
Average Collection Turnover
$6 -655.50
Effective annual rate of interest formula
40. Convert .36 to a percent
gross sales
Markdown %
378 63
36%
41. Multiply the number by 1+the increase proportion - e.g. 16(1+0.25) = 161.25 = 20 - 20 is a 25% increase over 16
To increase a number by a given percentage - e.g. increase 16 by 25%
Effective annual rate of interest formula
when multiplying numbers that contain decimals:
percent decrease
42. Two equivalent ratios joined by an equal sign.
Proportion
When Dividing With Exponents
types of assets
588 mph
43. 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?
2.5% per month
Dividing Fractions
net sales
Subtracting Fractions
44. Convert 80% to a fraction
per hundred
gross margin
80/100
net sales
45. A team won 16 games and lost 9 games. What percent of games did the team lose?
$2 -127.66
$ Retail
36%
Markdown %
46. The wholesale cost of an item (cost of goods - or COG)
Turnover
percent
net sales
Cost
47. Commissions - fees for service - merchandise sales - rental income - royalties
types of incomes
Turnover
types of liabilities
net sales
48. 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...
Gross margin dollars
net sales
operating expenses
Quick Ratio
49. Gross margin dollars/Net sales dollars (multiply by 100 to express as percentage) or (Selling price - cost) x 100 / Selling price
To increase a number by a given percentage - e.g. increase 16 by 25%
Liquidity
Gross margin %
Break Even Point Formula
50. Convert 41/100 to a percent
Average Daily Sales
$6 -655.50
41%
profit and loss statement
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