SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
DSST Business Math
Start Test
Study First
Subjects
:
dsst
,
math
,
business-skills
,
business-math
,
bvat
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. BOM $ Stock/ Sales for period
50/100
Stock to Sales Ratio
per hundred
.7
2. (Retail - Cost)/ Retail
$2 -127.66
Margin %
improper
60
3. Multiply the number by 1-the decrease proportion - e.g. 16(1-0.25) = 160.75 = 12 - 12 is a 25% decrease of 16
To decrease a number by a given percentage - e.g. decrease 16 by 25%
FOB destination
book value
Average Collection Turnover
4. A/b - c/b = a-c/b
Subtracting Fractions
With cash discounts and calculating net price - when to add freight
EOM (in terms of invoice)
$6 -655.50
5. Start with list price - List price: $6400 x 25% - x 10% - x10% % - Taken one after another(subtract)
profit
netprice with a 25/10/10 series discount
per hundred
Markup
6. The recommended house payment should be no more than _% of your monthly take-home pay.
profit
Cost
25
overbought
7. A team won 16 games and lost 9 games. What percent of games did the team lose?
36%
Markdown %
3%
Sell Thru %
8. cost of an item expressed per unit of measure or count.
Markup
Liquidity
Mark Up %
Unit pricing
9. Turning assets into cash.
Liquidity of Assets
types of liabilities
14/100
Cost
10. Outside numbers in a ratio.
Margin %
Multiplying Fractions
Extremes
Internal Rate of Return
11. Units Sold/ (Units Sold + On Hand Inventory)
.7
FOB destination
overbought
Sell Thru %
12. Another way of counting part of a whole?
types of liabilities
.65
Of what number 16 is a 25% increase
percent
13. Convert 1/4 to a percent
25%
$ Cost
loss
types of capital
14. total fixed costs/ selling price-variable cost
378 63
Gross margin dollars
profit
Break Even Point Formula
15. Another name for the P & L statement mainly used by managers planning sales or accountants formulating analyses
$ Retail
types of capital
Of what number 16 is a 25% increase
income statement
16. Multiply the number by 1+the increase proportion - e.g. 16(1+0.25) = 161.25 = 20 - 20 is a 25% increase over 16
To increase a number by a given percentage - e.g. increase 16 by 25%
.7
underbought
Mark Up %
17. The wholesale cost of an item (cost of goods - or COG)
Subtracting Fractions
Cost
36%
25%
18. Beginning inventory + Purchases - Ending inventory
physical inventory
cost of goods sold formula (COGS)
14/100
Quick Ratio
19. Commissions - fees for service - merchandise sales - rental income - royalties
36%
types of incomes
profit and loss statement
2.5% per month
20. If freight is to be paid by the seller - the shipping terms are...
FOB destination
To increase a number by a given percentage - e.g. increase 16 by 25%
Markdown %
$ COST
21. You should never take out more than a _ year mortgage.
installment loan
15
.56
loss
22. The average car payment is $_ per month for _ months.
Retail
Dividing Fractions
Current Assets
378 63
23. 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%
to determine equivalent single discount rate for 25/10/10 series discount
4%
Gross margin %
20%
24. Convert 80% to a fraction
62%
types of capital
3%
80/100
25. Capital stock - owner's equity (owner's funds invested in the business)
Internal Rate of Return
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
3%
types of capital
26. $ Cost/ (100%-markup%)
$ Retail
FOB destination
profit and loss statement
% increase or decrease
27. Direct labor - factory overhead - merchandise inventory - packaging - raw material
Unit pricing
GMROI
costs of goods sold
Multiplying Fractions
28. 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
2.5% per month
per hundred
The sum of a Geometric Progression
To increase a number by a given percentage - e.g. increase 16 by 25%
29. Alignment of the decimals is not important
increase=credit
36%
when multiplying numbers that contain decimals:
types of incomes
30. The average person will have _ jobs in their lifetime.
90.9%
16-18
$6 -655.50
25
31. IRR=1 + [(NPV1/NPV1-NPV2)(2-1)]% Where: 1=one interest rate 2=the other NPV1=the NPV at rate 1 NPV2=the NPV at rate 2 (NPV = Net Present Value)
Average Collection Turnover
Multiplying Fractions
Internal Rate of Return
Effective annual rate of interest formula
32. Sales - cost of goods sold
OTB (retail)
shortage
Gross margin dollars
Markdown %
33. Cash on delivery; this dating is used when the vendor does not know the retailer or the retailer does not have a strong line of credit
COD
netprice with a 25/10/10 series discount
.7
2.5% per month
34. Formula: GM = NS - COG; GM$ = NS$ X GM%
types of expenses
Sell Thru %
gross margin
percent
35. The cost of moving from the vendor's warehouse (loading dock) to the retail warehouse or store (loading dock) - may also include insurance to cover the merchandise while in transit
Means
profit
costs of goods sold
transportation
36. 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
25%
profit and loss statement
.56
Quick Ratio
37. 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.
Extremes
net sales
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
70%
38. The average car will lose _% of its value in the first 4 years.
$ Cost
loss
60
1.304
39. % of 90 days same as cash convert to payments.
Dividing Fractions
installment loan
78
3%
40. Convert 10/11 to a percent
Break Even Point
90.9%
Adding Fractions
$ Cost
41. 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)
Proportion
gross margin
Subtracting Fractions
stock turn
42. Loss of items due to damaged goods - stealing - etc.
shrinkage
To decrease a number by a given percentage - e.g. decrease 16 by 25%
overages
underbought
43. Convert 1.25 to a percent
gross margin
With cash discounts and calculating net price - when to add freight
16-18
125%
44. Convert 70/100 to a percent
70%
Margin %
Multiplying Fractions
increase=credit
45. cash + receivables/ current liabilities.
Average Daily Sales
25%
Quick Ratio
20%
46. Convert 50% to a fraction
loss
book value
50/100
GMROI
47. The difference between the retail price and the cost of goods sold; it includes operating expenses - retail reductions - and profit
Markup
Current Assets
36%
41%
48. GMROII = GM% x (Sales / Average Value of Inventory)
Gross Margin Return On Inventory Investment (GMROII)
transportation
Extremes
GMROI
49. Convert .4 to a percent
Multiplying Fractions
4%
Proportion
GMROI
50. He availability of your money is called _.
Mark Up %
Gross margin dollars
Liquidity
Cost