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Test your basic knowledge |

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. Convert 1/4 to a percent






2. total annual sales/365






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






4. $ retail x (100%-markup)






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






6. total fixed costs/ selling price-variable cost






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






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






9. Sales - cost of goods sold






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






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






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






13. 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






14. Wholesale cost






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






16. Convert 70/100 to a percent






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






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






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






20. Convert 70% to a decimal






21. After 4 years - $5 -000 will grow to how much if it earns 10% interest?






22. 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)






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






24. Beginning inventory + Purchases - Ending inventory






25. Convert 3 to a percent






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






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






28. He availability of your money is called _.






29. Convert 20 to a percent






30. 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%






31. Assets - cost of goods sold - expenses






32. Convert .62 to a percent






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






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






35. What is the product of 3.26 and 0.4?






36. Convert 80% to a fraction






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






38. S=X(1+r1)^y(1+r






39. A/b






40. Another way of counting part of a whole?






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






42. 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.






43. Convert 50% to a fraction






44. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods






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






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






47. 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)






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






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






50. 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)






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