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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 .4 to a percent






2. Total Net Sales / Total Number of Transactions






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






4. Inside numbers in a ratio.






5. 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






6. Planned Sales + Planned Markdowns + Planned EOM - Planned BOM






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






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






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






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






11. Convert 1/4 to a percent






12. 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






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






14. Convert 41/100 to a percent






15. BOM $ Stock/ Sales for period






16. 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)






17. 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?






18. 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






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






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






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






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






23. Two equivalent ratios joined by an equal sign.






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






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






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






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






28. Turning assets into cash.






29. Convert 1.25 to a percent






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






31. 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)






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






33. 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






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






35. 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?






36. A^m/a^n = a^(m-n)






37. Original retail price - Lower retail price






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






39. Convert 3 to a percent






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






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






42. The point at which you stop losing money.






43. Beginning inventory + Purchases - Ending inventory






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






45. He availability of your money is called _.






46. A/b






47. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






48. total fixed costs/ selling price-variable cost






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






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