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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 .62 to a percent






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






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






4. BOM $ Stock/ Sales for period






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






6. (Retail - Cost)/ Retail






7. accounts receivable/ average daily sales






8. Convert 80% to a fraction






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






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






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






12. Assets - cost of goods sold - expenses






13. Total Net Sales / Total Number of Transactions






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






15. A/b






16. 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?






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






18. Divide the result by 1+the increase proportion eg) X=16/(1+0.25) = 12.8 - 16 is a 25% increase over 12.8






19. Overage$ = book$ - physical count$; overage% = overage$/NS$






20. Net Sales for period/ Avg Stock for period






21. $ retail x (100%-markup)






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






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






24. total annual sales/365






25. 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






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






27. Alignment of the decimals is not important






28. A fraction in which the denominator is equal to or less than the numerator is a(an) ______________ fraction.






29. Convert 1.25 to a percent






30. He availability of your money is called _.






31. What is the product of 3.26 and 0.4?






32. Convert 70/100 to a percent






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






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






35. Inside numbers in a ratio.






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






37. 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)






38. Sales - cost of goods sold






39. Another way of counting part of a whole?






40. GMROII = GM% x (Sales / Average Value of Inventory)






41. What does percent mean?






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






43. The point at which you stop losing money.






44. 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






45. 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)






46. Original retail price - Lower retail price






47. 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?






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






49. 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






50. Divide the result by 1-the decrease proportion - eg) X=16/(1-0.25)=21.33 - 16 is a 25% decrease of 21.33