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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 70% to a decimal






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






3. 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






4. 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...






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






6. Net Sales for period/ Avg Stock for period






7. 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






8. Convert 65% to a decimal






9. 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






10. (Retail - Cost)/ Retail






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






12. Convert 70/100 to a percent






13. Wholesale cost






14. Multiply the number by 1+the increase proportion - e.g. 16(1+0.25) = 161.25 = 20 - 20 is a 25% increase over 16






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






16. Original retail price - Lower retail price






17. 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?






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






19. Inside numbers in a ratio.






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






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






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






23. Convert 3 to a percent






24. A/b






25. $ Cost/ (100%-markup%)






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






27. 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)






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






29. total fixed costs/ selling price-variable cost






30. 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.






31. Another way of counting part of a whole?






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






33. Total Net Sales / Total Number of Transactions






34. $ RETAIL X (100 - GM %) / 100






35. 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






36. Another name for the P & L statement mainly used by managers planning sales or accountants formulating analyses






37. accounts receivable/ average daily sales






38. 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%






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






40. Convert 41/100 to a percent






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






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






43. Convert 1/4 to a percent






44. Convert 56% to a decimal






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






46. The wholesale cost of goods plus the markup






47. Two equivalent ratios joined by an equal sign.






48. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






49. 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)






50. $ retail x (100%-markup)