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






2. The point at which you stop losing money.






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






4. Alignment of the decimals is not important






5. 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?






6. Wholesale cost






7. Another name for the P & L statement mainly used by managers planning sales or accountants formulating analyses






8. Convert 20 to a percent






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






10. Convert 56% to a decimal






11. cash + receivables/ current liabilities.






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






13. Convert 70/100 to a percent






14. Receipt of goods; the cash discount period and net period begin with the date of receipt of goods; ex: 8/10 ROG - n/30






15. 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)






16. Convert .62 to a percent






17. Net Sales for period/ Avg Stock for period






18. (Retail - Cost)/ Retail






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






20. 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






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






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






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






24. $ retail x (100%-markup)






25. $ Markdown/ $ Net Sales (multiply result by 100 to express as percentage)






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






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






28. accounts receivable/ average daily sales






29. Two equivalent ratios joined by an equal sign.






30. 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






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






32. Amount decrease (Original - New) / Original amount = decimal= convert to %






33. Convert 41/100 to a percent






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






35. Convert 1.25 to a percent






36. 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






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






38. Liabilities - capital - income






39. current assets/ current liabilities






40. 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?






41. Assets - cost of goods sold - expenses






42. What is the product of 3.26 and 0.4?






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






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






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






46. Turning assets into cash.






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






48. Another way of counting part of a whole?






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






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