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






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






3. Convert .36 to a percent






4. Gross Margin/ Average Inventory Cost






5. 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?






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






7. 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%






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






9. Convert 65% to a decimal






10. Wholesale cost






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






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






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






14. 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






15. Net Sales for period/ Avg Stock for period






16. Outside numbers in a ratio.






17. Convert 1.25 to a percent






18. Convert 50% to a fraction






19. 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...






20. Convert 10/11 to a percent






21. Convert 56% to a decimal






22. He availability of your money is called _.






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






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






25. Convert 20 to a percent






26. 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






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






28. BOM $ Stock/ Sales for period






29. cash + receivables/ current liabilities.






30. Convert 41/100 to a percent






31. Convert 3 to a percent






32. 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.






33. What does percent mean?






34. (Retail - Cost)/ Retail






35. A count of every item on the floor - in stock rooms - warehouse - etc. to determine whether shortages or overages are occuring






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






37. 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)






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






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






40. Sales - cost of goods sold






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






42. $ retail x (100%-markup)






43. Alignment of the decimals is not important






44. 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)






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






46. 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






47. 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?






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






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






50. A/b







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Can you answer 50 questions in 15 minutes?


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