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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. Net Sales for period/ Avg Stock for period






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






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






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






5. 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






6. Convert .36 to a percent






7. Wholesale cost






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






9. Outside numbers in a ratio.






10. What is the product of 3.26 and 0.4?






11. Convert 1/4 to a percent






12. Sales - cost of goods sold






13. Commissions - fees for service - merchandise sales - rental income - royalties






14. total fixed costs/ selling price-variable cost






15. Multiply the number by 1+the increase proportion - e.g. 16(1+0.25) = 161.25 = 20 - 20 is a 25% increase over 16






16. (Retail - Cost)/ Retail






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






19. Original retail price - Lower retail price






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






21. A/b






22. Divide the result by 1+the increase proportion eg) X=16/(1+0.25) = 12.8 - 16 is a 25% increase over 12.8






23. 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)






24. $ retail x (100%-markup)






25. Convert 65% to a decimal






26. Convert .4 to a percent






27. Convert 70% to a decimal






28. accounts receivable/ average daily sales






29. 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






30. Turning assets into cash.






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






32. The point at which you stop losing money.






33. 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






34. Convert 80% to a fraction






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






36. Liabilities - capital - income






37. Total Net Sales / Total Number of Transactions






38. Beginning inventory + Purchases - Ending inventory






39. total annual sales/365






40. What does percent mean?






41. Two equivalent ratios joined by an equal sign.






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






43. A/b






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






45. Net Sales / Average Retail Value of Inventory






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






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






48. 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






49. Convert 1.25 to a percent






50. Overage$ = book$ - physical count$; overage% = overage$/NS$