Test your basic knowledge |

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






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






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






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






5. Units Sold/ (Units Sold + On Hand Inventory)






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






7. 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?






8. total annual sales/365






9. Multiply the number by 1-the decrease proportion - e.g. 16(1-0.25) = 160.75 = 12 - 12 is a 25% decrease of 16






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






11. Divide the result by 1+the increase proportion eg) X=16/(1+0.25) = 12.8 - 16 is a 25% increase over 12.8






12. (Retail - Cost)/ Retail






13. Convert 14% to a fraction






14. 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...






15. 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






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






17. Convert .4 to a percent






18. Total Net Sales / Total Number of Transactions






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






20. Amount decrease (Original - New) / Original amount = decimal= convert to %






21. Convert 65% to a decimal






22. Convert 3 to a percent






23. Convert 20 to a percent






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






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






26. Inside numbers in a ratio.






27. What is the product of 3.26 and 0.4?






28. A/b






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






30. Turning assets into cash.






31. A/b






32. 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






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






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






35. Convert 10/11 to a percent






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






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






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






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






40. 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)






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






42. 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?






43. 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)






44. 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%






45. Another way of counting part of a whole?






46. Start with list price - List price: $6400 x 25% - x 10% - x10% % - Taken one after another(subtract)






47. Receipt of goods; the cash discount period and net period begin with the date of receipt of goods; ex: 8/10 ROG - n/30






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






49. Convert 41/100 to a percent






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







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests