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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 10/11 to a percent






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






3. The point at which you stop losing money.






4. total annual sales/365






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






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






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






8. 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)






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






10. 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%






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






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






13. Convert .36 to a percent






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






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






16. Outside numbers in a ratio.






17. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






18. When sales plans are underestimated and the stock purchases result in a low inventory






19. 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






20. cash + receivables/ current liabilities.






21. 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.






22. accounts receivable/ average daily sales






23. Convert 41/100 to a percent






24. Convert 14% to a fraction






25. Convert 3 to a percent






26. You should never take out more than a _ year mortgage.






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






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






29. 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






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






31. Convert 70% to a decimal






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






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. 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






37. Wholesale cost






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






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






40. 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)






41. Convert 70/100 to a percent






42. 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






43. A/b






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






45. A^m/a^n = a^(m-n)






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






47. He availability of your money is called _.






48. Net Sales for period/ Avg Stock for period






49. Formula: GM = NS - COG; GM$ = NS$ X GM%






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