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






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






3. BOM $ Stock/ Sales for period






4. Convert 20 to a percent






5. Convert 14% to a fraction






6. cash + receivables/ current liabilities.






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






8. Beginning inventory + Purchases - Ending inventory






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






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






11. Turning assets into cash.






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






13. Alignment of the decimals is not important






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






15. $ retail x (100%-markup)






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






17. (Retail - Cost)/ Retail






18. Net Sales for period/ Avg Stock for period






19. Convert 70/100 to a percent






20. You should never take out more than a _ year mortgage.






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






22. The wholesale cost of goods plus the markup






23. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






24. 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






25. accounts receivable/ average daily sales






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






27. Convert 70% to a decimal






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






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






30. Convert 80% to a fraction






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






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






33. Convert 41/100 to a percent






34. 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)






35. Inside numbers in a ratio.






36. What is the product of 3.26 and 0.4?






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






38. 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






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






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






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






42. Convert 50% to a fraction






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






44. 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






45. 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






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






47. When slaes plans are overestimated and the stock purchases result in a stockpiled inventory






48. Convert 10/11 to a percent






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






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







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