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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. total annual sales/365






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






3. Alignment of the decimals is not important






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






5. Convert 56% to a decimal






6. Convert 1.25 to a percent






7. accounts receivable/ average daily sales






8. Two equivalent ratios joined by an equal sign.






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






10. He availability of your money is called _.






11. 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)






12. The point at which you stop losing money.






13. The wholesale cost of goods plus the markup






14. 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)






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






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






17. 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)






18. BOM $ Stock/ Sales for period






19. Turning assets into cash.






20. 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?






21. ($ Retail x 100 / COST) - 100






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






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






24. Convert .4 to a percent






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






26. Net Sales for period/ Avg Stock for period






27. Convert 3 to a percent






28. Convert 20 to a percent






29. (Retail - Cost)/ Retail






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






31. A/b - c/b = a-c/b






32. 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%






33. What does percent mean?






34. Gross Margin/ Average Inventory Cost






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






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






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






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






39. 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






40. Convert 14% to a fraction






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






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






43. Beginning inventory + Purchases - Ending inventory






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






45. 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?






46. 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.






47. Convert 65% to a decimal






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






49. $ retail x (100%-markup)






50. Liabilities - capital - income