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






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






3. total annual sales/365






4. He availability of your money is called _.






5. Convert 56% to a decimal






6. 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






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






8. Gross Margin/ Average Inventory Cost






9. The wholesale cost of goods plus the markup






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






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






12. Assets - cost of goods sold - expenses






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






14. 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






15. Convert 20 to a percent






16. 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?






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






18. Date of invoice - the cash discount terms will have no dating within the discount statement; ex: 4/10 - n/30






19. 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.






20. 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...






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






23. A/b






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






25. Convert .4 to a percent






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






27. Convert 70% to a decimal






28. The value of the inventory as kept in the handwritten ledgers or computer system; formula: book$ = merchandise available$ - NS$ - (MD$ + ED$)






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






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






31. (Retail - Cost)/ Retail






32. Total Net Sales / Total Number of Transactions






33. Beginning inventory + Purchases - Ending inventory






34. Convert 3 to a percent






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






36. Convert 70/100 to a percent






37. Net Sales / Average Retail Value of Inventory






38. The wholesale cost of an item (cost of goods - or COG)






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






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






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. Receipt of goods; the cash discount period and net period begin with the date of receipt of goods; ex: 8/10 ROG - n/30






43. Alignment of the decimals is not important






44. What does percent mean?






45. 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?






46. 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)






47. total fixed costs/ selling price-variable cost






48. Outside numbers in a ratio.






49. 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






50. Convert 65% to a decimal






Can you answer 50 questions in 15 minutes?



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