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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 20 to a percent






2. Liabilities - capital - income






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






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






5. Convert 10/11 to a percent






6. Total Net Sales / Total Number of Transactions






7. 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?






8. Sales - cost of goods sold






9. 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






10. total fixed costs/ selling price-variable cost






11. 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)






12. BOM $ Stock/ Sales for period






13. Inside numbers in a ratio.






14. Wholesale cost






15. When sales plans are underestimated and the stock purchases result in a low inventory






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






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






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






19. (Retail - Cost)/ Retail






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






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






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






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






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






25. A form of closed-end credit used for purchasing durable goods such as cars






26. Convert .36 to a percent






27. 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...






28. Convert 50% to a fraction






29. What is the product of 3.26 and 0.4?






30. 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?






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






32. 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%






33. Convert 56% to a decimal






34. 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






35. accounts receivable/ average daily sales






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






37. Convert 80% to a fraction






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






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






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






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






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






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






44. 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.






45. If freight is to be paid by the seller - the shipping terms are...






46. 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)






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






48. 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






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






50. Net Sales / Average Retail Value of Inventory