SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
DSST Business Math
Start Test
Study First
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. 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...
The sum of a Geometric Progression
operating expenses
Average Daily Sales
$2 -127.66
2. Divide the result by 1+the increase proportion eg) X=16/(1+0.25) = 12.8 - 16 is a 25% increase over 12.8
Of what number 16 is a 25% increase
Margin %
increase=debit
20%
3. After 4 years - $5 -000 will grow to how much if it earns 10% interest?
shrinkage
$6 -655.50
Cost
Average Daily Sales
4. Turning assets into cash.
25
3%
50/100
Liquidity of Assets
5. The average car will lose _% of its value in the first 4 years.
Gross margin dollars
60
36%
Multiplying Fractions
6. What is the product of 3.26 and 0.4?
36%
Turnover
per hundred
1.304
7. Convert .4 to a percent
$ COST
588 mph
4%
62%
8. What does percent mean?
per hundred
588 mph
Mark Up %
to determine equivalent single discount rate for 25/10/10 series discount
9. $ RETAIL X (100 - GM %) / 100
stock turn
income statement
$ COST
types of capital
10. 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.
Of what number 16 is a 25% increase
25
378 63
net sales
11. When sales plans are underestimated and the stock purchases result in a low inventory
Internal Rate of Return
gross sales
25%
underbought
12. BOM $ Stock/ Sales for period
operating expenses
Stock to Sales Ratio
Break Even Point Formula
DOI
13. 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?
$252
GMROI
60
types of capital
14. The average person will have _ jobs in their lifetime.
Cost
70%
78
16-18
15. Overage$ = book$ - physical count$; overage% = overage$/NS$
70%
overages
Break Even Point
cost of goods
16. total fixed costs/ selling price-variable cost
Stock to Sales Ratio
types of incomes
Break Even Point Formula
3%
17. Convert 65% to a decimal
With cash discounts and calculating net price - when to add freight
$ Retail
.65
Mark Up %
18. A count of every item on the floor - in stock rooms - warehouse - etc. to determine whether shortages or overages are occuring
Simple interest formula
78
physical inventory
gross margin
19. When slaes plans are overestimated and the stock purchases result in a stockpiled inventory
shortage
Average Collection Turnover
overbought
Cost
20. Convert 41/100 to a percent
.7
50/100
41%
Markup
21. The recommended house payment should be no more than _% of your monthly take-home pay.
underbought
25
2.5% per month
Stock to Sales Ratio
22. Formula: GM = NS - COG; GM$ = NS$ X GM%
gross margin
16-18
Break Even Point Formula
50/100
23. Convert 1/4 to a percent
With cash discounts and calculating net price - when to add freight
When Dividing With Exponents
OTB (retail)
25%
24. Receipt of goods; the cash discount period and net period begin with the date of receipt of goods; ex: 8/10 ROG - n/30
overages
14/100
Average Collection Turnover
ROG
25. Cash or assets that can quickly be converted into cash.
cost of goods
Turnover
Liquidity
Current Assets
26. $ Cost/ (100%-markup%)
To increase a number by a given percentage - e.g. increase 16 by 25%
COD
$ Retail
80/100
27. Multiply the number by 1-the decrease proportion - e.g. 16(1-0.25) = 160.75 = 12 - 12 is a 25% decrease of 16
Average Collection Turnover
$ Retail
Markup
To decrease a number by a given percentage - e.g. decrease 16 by 25%
28. Units Sold/ (Units Sold + On Hand Inventory)
Of what number 16 is a 25% increase
$ Markdown
The sum of a Geometric Progression
Sell Thru %
29. 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)
Quick Ratio
When Dividing With Exponents
2.5% per month
stock turn
30. Convert 50% to a fraction
Average Daily Sales
types of liabilities
16-18
50/100
31. Convert 80% to a fraction
With cash discounts and calculating net price - when to add freight
To decrease a number by a given percentage - e.g. decrease 16 by 25%
80/100
installment loan
32. Convert 10/11 to a percent
90.9%
types of expenses
EOM (in terms of invoice)
gross margin
33. 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
Retail
90.9%
steps in strategic planning
588 mph
34. A/b + c/b = (a+c)/b
Simple interest formula
25%
improper
Adding Fractions
35. Convert 20 to a percent
20%
Average Collection Turnover
book value
The sum of a Geometric Progression
36. You should never take out more than a _ year mortgage.
Turnover
Proportion
15
OTB (retail)
37. Assets - cost of goods sold - expenses
41%
70%
36%
increase=debit
38. Convert 70% to a decimal
.7
$ Retail
Effective annual rate of interest formula
cost of goods
39. (TY-LY)/ LY or (Plan-Actual)/
% increase or decrease
2.5% per month
profit and loss statement
Retail
40. ($ Retail x 100 / COST) - 100
Mark Up %
.56
4%
Discounting Formula
41. Date of invoice - the cash discount terms will have no dating within the discount statement; ex: 4/10 - n/30
DOI
70%
types of capital
Gross margin %
42. $ Markdown/ $ Net Sales (multiply result by 100 to express as percentage)
Markdown %
Turnover
4%
Liquidity
43. Outside numbers in a ratio.
shortage
588 mph
Extremes
Cost
44. Sales - cost of goods sold
Gross margin dollars
41%
Dividing Fractions
Cost
45. Two equivalent ratios joined by an equal sign.
36%
Turnover
gross sales
Proportion
46. Accounts payable - bonds - notes payable (bank loans) - provisions for pensions
378 63
underbought
types of liabilities
GMROI
47. Loss of items due to damaged goods - stealing - etc.
shrinkage
Break Even Point
Average Collection Turnover
Turnover
48. current assets/ current liabilities
net sales
Current Ratio
types of assets
Subtracting Fractions
49. Divide the result by 1-the decrease proportion - eg) X=16/(1-0.25)=21.33 - 16 is a 25% decrease of 21.33
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
gross sales
Sales per Transaction
types of capital
50. X=S*[1/(1+r)^n] Where: S=the sum to be received after n time periods X=the present value of that sum r=the rate of return (as a proportion) n=the number of time periods - r - rate - is sometimes called cost of capital
Discounting Formula
per hundred
Stock to Sales Ratio
net sales