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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 1.25 to a percent






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






3. 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?






4. Total Net Sales / Total Number of Transactions






5. Planned Sales + Planned Markdowns + Planned EOM - Planned BOM






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






7. Alignment of the decimals is not important






8. cash + receivables/ current liabilities.






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






10. 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)






11. Beginning inventory + Purchases - Ending inventory






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






13. Convert 56% to a decimal






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






15. A/b






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






17. Convert 3 to a percent






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






20. Turning assets into cash.






21. The wholesale cost of an item (cost of goods - or COG)






22. Inside numbers in a ratio.






23. Convert 41/100 to a percent






24. The cost of moving from the vendor's warehouse (loading dock) to the retail warehouse or store (loading dock) - may also include insurance to cover the merchandise while in transit






25. Outside numbers in a ratio.






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






27. Sales - cost of goods sold






28. total fixed costs/ selling price-variable cost






29. Two equivalent ratios joined by an equal sign.






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






31. Convert 1/4 to a percent






32. (Retail - Cost)/ Retail






33. A/b + c/b = (a+c)/b






34. 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.






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






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






37. accounts receivable/ average daily sales






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






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






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






41. Assets - cost of goods sold - expenses






42. % of 90 days same as cash convert to payments.






43. 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%






44. Convert 50% to a fraction






45. 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






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






47. Convert 70% to a decimal






48. A measure of the number of days needed to collect accounts receivable.






49. Another way of counting part of a whole?






50. 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