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

2. 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%

3. 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

4. Cash or assets that can quickly be converted into cash.

5. Convert 3 to a percent

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

7. Convert .36 to a percent

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

9. 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

10. Original retail price - Lower retail price

11. Loss of items due to damaged goods - stealing - etc.

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

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

14. accounts receivable/ average daily sales

15. The recommended house payment should be no more than _% of your monthly take-home pay.

16. Convert 56% to a decimal

17. What is the product of 3.26 and 0.4?

18. Gross Margin/ Average Inventory Cost

19. Convert 41/100 to a percent

20. 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

21. 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

22. 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.

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

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

25. 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?

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

27. Capital stock - owner's equity (owner's funds invested in the business)

28. total fixed costs/ selling price-variable cost

29. 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)

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

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

32. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods

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

34. Another way of counting part of a whole?

35. Outside numbers in a ratio.

36. 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%

37. \$ RETAIL X (100 - GM %) / 100

38. Inside numbers in a ratio.

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

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

41. Convert 65% to a decimal

42. A count of every item on the floor - in stock rooms - warehouse - etc. to determine whether shortages or overages are occuring

43. 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...

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

45. Convert .62 to a percent

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

47. \$ Cost/ (100%-markup%)

48. Accounts receivable - buildings - cash - copyrights - equiptment - furniture and fixtures - land - tomor vehicles

49. 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?

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