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DSST Business Math

Subjects : dsst, math, business-skills, business-math, bvat

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?
$ Retail
Stock to Sales Ratio
steps in strategic planning
$2 -127.66

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
90.9%
Unit pricing
Inventory Turnover Rate
To increase a number by a given percentage - e.g. increase 16 by 25%

3. Liabilities - capital - income
increase=credit
Liquidity
Gross margin dollars
Simple interest formula

4. Total Net Sales / Total Number of Transactions
when multiplying numbers that contain decimals:
60
Quick Ratio
Sales per Transaction

5. Two equivalent ratios joined by an equal sign.
DOI
Internal Rate of Return
cost of goods
Proportion

6. Gross margin dollars/Net sales dollars (multiply by 100 to express as percentage) or (Selling price - cost) x 100 / Selling price
62%
Gross margin %
profit
Effective annual rate of interest formula

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
$ Retail
Turnover
EOM (in terms of invoice)
Discounting Formula

8. BOM $ Stock/ Sales for period
GMROI
Average Daily Sales
Stock to Sales Ratio
3%

9. S=X(1+r1)^y(1+r
profit and loss statement
net sales
Compound interest formula with changing rates
cost of goods

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%
types of assets
$2 -127.66
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
to determine equivalent single discount rate for 25/10/10 series discount

11. cost of an item expressed per unit of measure or count.
Liquidity of Assets
Cost
Unit pricing
profit and loss statement

12. Wholesale cost
With cash discounts and calculating net price - when to add freight
cost of goods
Of what number 16 is a 25% increase
types of incomes

13. Inside numbers in a ratio.
Means
$ COST
41%
$252

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)
Simple interest formula
3%
Proportion
1.304

15. Convert 80% to a fraction
profit
50/100
80/100
shrinkage

16. (Retail - Cost)/ Retail
Sell Thru %
Markdown %
Markup
Margin %

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
Simple interest formula
transportation
when multiplying numbers that contain decimals:
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?

18. Convert 70/100 to a percent
70%
Retail
16-18
gross margin

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
Retail
shrinkage
COD
When Dividing With Exponents

20. The average car payment is $_ per month for _ months.
378 63
Markup
Cost
41%

21. Convert 10/11 to a percent
ROG
Mark Up %
90.9%
41%

22. accounts receivable/ average daily sales
types of capital
Average Collection Turnover
cost of goods sold formula (COGS)
Proportion

23. Units Sold/ (Units Sold + On Hand Inventory)
Unit pricing
stock turn
Sell Thru %
installment loan

24. Formula: GM = NS - COG; GM$ = NS$ X GM%
types of expenses
gross margin
14/100
Of what number 16 is a 25% increase

25. $ Markdown/ $ Net Sales (multiply result by 100 to express as percentage)
125%
transportation
types of assets
Markdown %

26. Gross Margin/ Average Inventory Cost
profit and loss statement
$2 -127.66
To decrease a number by a given percentage - e.g. decrease 16 by 25%
GMROI

27. Convert 20 to a percent
125%
20%
EOM (in terms of invoice)
Sales per Transaction

28. A/b
Multiplying Fractions
per hundred
increase=debit
.65

29. A measure of the number of days needed to collect accounts receivable.
25%
Average Collection Turnover
types of expenses
Dividing Fractions

30. Outside numbers in a ratio.
62%
Extremes
15
$2 -127.66

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?
when multiplying numbers that contain decimals:
2.5% per month
$252
costs of goods sold

32. A/b
Internal Rate of Return
per hundred
36%
Dividing Fractions

33. After 4 years - $5 -000 will grow to how much if it earns 10% interest?
14/100
increase=credit
$6 -655.50
Discounting Formula

34. After all discounts have been applied to find net amount due. $100 -25% less trade discount -4% cash discount # + $20 freight!
With cash discounts and calculating net price - when to add freight
% increase or decrease
cost of goods
Quick Ratio

35. What is the product of 3.26 and 0.4?
Quick Ratio
GMROI
$ Cost
1.304

36. $ Cost/ (100%-markup%)
$ Retail
when multiplying numbers that contain decimals:
Inventory Turnover Rate
COD

37. Convert 1/4 to a percent
25%
Compound interest formula with changing rates
cost of goods
20%

38. Another way of counting part of a whole?
1.304
Sell Thru %
percent
.56

39. Alignment of the decimals is not important
cost of goods
Break Even Point
20%
when multiplying numbers that contain decimals:

40. Start with list price - List price: $6400 x 25% - x 10% - x10% % - Taken one after another(subtract)
To decrease a number by a given percentage - e.g. decrease 16 by 25%
stock turn
per hundred
netprice with a 25/10/10 series discount

41. $ RETAIL X (100 - GM %) / 100
15
$ COST
steps in strategic planning
78

42. current assets/ current liabilities
Current Ratio
36%
$ Markdown
To increase a number by a given percentage - e.g. increase 16 by 25%

43. A/b - c/b = a-c/b
Turnover
Retail
Subtracting Fractions
shortage

44. What happens when your expenses - etc. are higher than your sales
loss
Current Assets
1.304
Mark Up %

45. A plane flies 980 miles in 1 2/3 hours. How many miles does the plane average per hour
25
588 mph
Quick Ratio
36%

46. Overage$ = book$ - physical count$; overage% = overage$/NS$
$2 -127.66
15
percent decrease
overages

47. Convert .36 to a percent
Discounting Formula
$ Retail
36%
increase=debit

48. total annual sales/365
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
Average Daily Sales
Of what number 16 is a 25% increase
steps in strategic planning

49. Direct labor - factory overhead - merchandise inventory - packaging - raw material
types of capital
costs of goods sold
Break Even Point Formula
$ Retail

50. What happens when your sales are higher than your expenses - etc.
operating expenses
types of liabilities
Dividing Fractions
profit