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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. Convert 10/11 to a percent






2. Convert 20 to a percent






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






4. Sales - cost of goods sold






5. 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...






6. What does percent mean?






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






8. Net Sales / Average Retail Value of Inventory






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






10. Alignment of the decimals is not important






11. Liabilities - capital - income






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






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






14. 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






15. Convert 56% to a decimal






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






17. When refunds or retail price reductions are given to customers - these activities reduce the value of this (also known as initial sales). formula: GS = NS + RED; GS$ = NS$ X GS%






18. Gross margin dollars/Net sales dollars (multiply by 100 to express as percentage) or (Selling price - cost) x 100 / Selling price






19. BOM $ Stock/ Sales for period






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






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






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






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






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. He availability of your money is called _.






26. Convert 80% to a fraction






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






28. Convert 14% to a fraction






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






30. 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)






31. A/b - c/b = a-c/b






32. Convert 50% to a fraction






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






34. Convert 70/100 to a percent






35. Outside numbers in a ratio.






36. total fixed costs/ selling price-variable cost






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






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






39. Beginning inventory + Purchases - Ending inventory






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






41. 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.






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






43. Convert 1/4 to a percent






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






45. 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






46. Turning assets into cash.






47. Convert .36 to a percent






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






49. 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%






50. To take advantage of the 6% cash discount - a retailer made a $2 -000 partial payment during the discount period. How much was the retailer credited for the $2 -000 partial payment?