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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. BOM $ Stock/ Sales for period






2. 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)






3. Alignment of the decimals is not important






4. The wholesale cost of goods plus the markup






5. He availability of your money is called _.






6. A plane flies 980 miles in 1 2/3 hours. How many miles does the plane average per hour






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






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






9. (Retail - Cost)/ Retail






10. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






11. Convert 50% to a fraction






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






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






14. A formal document that is used for a variety of functions within a retail business; it provides a big picture look at the succinct expression of the sales - markup - and profit for a business






15. cash + receivables/ current liabilities.






16. The difference between the retail price and the cost of goods sold; it includes operating expenses - retail reductions - and profit






17. Convert .36 to a percent






18. current assets/ current liabilities






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






20. Convert 14% to a fraction






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






22. $ retail x (100%-markup)






23. Another way of counting part of a whole?






24. Total Net Sales / Total Number of Transactions






25. The point at which you stop losing money.






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






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






28. Sales - cost of goods sold






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






30. 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)






31. Accounts payable - bonds - notes payable (bank loans) - provisions for pensions






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






33. Convert 65% to a decimal






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






35. accounts receivable/ average daily sales






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






37. 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






38. Convert 10/11 to a percent






39. Assets - cost of goods sold - expenses






40. Beginning inventory + Purchases - Ending inventory






41. Convert 41/100 to a percent






42. 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.






43. What does percent mean?






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






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






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






47. Liabilities - capital - income






48. 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)






49. Convert 3 to a percent






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