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






2. Convert 1.25 to a percent






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






4. accounts receivable/ average daily sales






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






6. Assets - cost of goods sold - expenses






7. Sales - cost of goods sold






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






9. 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






10. Convert 70% to a decimal






11. 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%






12. The point at which you stop losing money.






13. total fixed costs/ selling price-variable cost






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






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






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






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






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






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






20. He availability of your money is called _.






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






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






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






24. $ retail x (100%-markup)






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






26. Beginning inventory + Purchases - Ending inventory






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






28. Turning assets into cash.






29. Net Sales / Average Retail Value of Inventory






30. A/b






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






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






33. 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%






34. (Retail - Cost)/ Retail






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






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






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






38. The wholesale cost of goods plus the markup






39. Another way of counting part of a whole?






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






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






42. Convert 1/4 to a percent






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






44. Net Sales for period/ Avg Stock for period






45. What is the product of 3.26 and 0.4?






46. Convert 80% to a fraction






47. 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






48. cash + receivables/ current liabilities.






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






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