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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. 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?






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






3. Liabilities - capital - income






4. Total Net Sales / Total Number of Transactions






5. Two equivalent ratios joined by an equal sign.






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






7. 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






8. BOM $ Stock/ Sales for period






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






10. 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%






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






12. Wholesale cost






13. Inside numbers in a ratio.






14. 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)






15. Convert 80% to a fraction






16. (Retail - Cost)/ Retail






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






18. Convert 70/100 to a percent






19. 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






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






21. Convert 10/11 to a percent






22. accounts receivable/ average daily sales






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






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






25. $ Markdown/ $ Net Sales (multiply result by 100 to express as percentage)






26. Gross Margin/ Average Inventory Cost






27. Convert 20 to a percent






28. A/b






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






30. Outside numbers in a ratio.






31. 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?






32. A/b






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






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






35. What is the product of 3.26 and 0.4?






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






37. Convert 1/4 to a percent






38. Another way of counting part of a whole?






39. Alignment of the decimals is not important






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






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






42. current assets/ current liabilities






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






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






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






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






47. Convert .36 to a percent






48. total annual sales/365






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






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