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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. 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%






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






3. Convert .4 to a percent






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






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






6. The average car payment is $_ per month for _ months.






7. 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.






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






9. A/b






10. 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






11. 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






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






13. Convert 65% to a decimal






14. Convert 20 to a percent






15. 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






16. Net Sales for period/ Avg Stock for period






17. What does percent mean?






18. End of month; dating starts with the end of the month and the invoice is to be paid within the specified number of days after the end of the month in which goods are invoiced; ex: 8/10 EOM - n/90






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. 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)






21. Total Net Sales / Total Number of Transactions






22. A/b






23. Convert 70% to a decimal






24. Convert .36 to a percent






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






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






27. Convert 50% to a fraction






28. He availability of your money is called _.






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






30. Original retail price - Lower retail price






31. IRR=1 + [(NPV1/NPV1-NPV2)(2-1)]% Where: 1=one interest rate 2=the other NPV1=the NPV at rate 1 NPV2=the NPV at rate 2 (NPV = Net Present Value)






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






33. 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?






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






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






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






37. Convert 56% to a decimal






38. What is the product of 3.26 and 0.4?






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






40. 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






41. Date of invoice - the cash discount terms will have no dating within the discount statement; ex: 4/10 - n/30






42. Convert 10/11 to a percent






43. cash + receivables/ current liabilities.






44. (Retail - Cost)/ Retail






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






46. Turning assets into cash.






47. Alignment of the decimals is not important






48. Gross Margin/ Average Inventory Cost






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






50. Convert 14% to a fraction