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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. BOM $ Stock/ Sales for period






2. (Retail - Cost)/ Retail






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






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






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






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






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






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






9. Turning assets into cash.






10. Outside numbers in a ratio.






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






12. Another way of counting part of a whole?






13. Convert 1/4 to a percent






14. total fixed costs/ selling price-variable cost






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






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






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






18. Beginning inventory + Purchases - Ending inventory






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






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






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






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






23. 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%






24. Convert 80% to a fraction






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






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






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






28. 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






29. Alignment of the decimals is not important






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






31. 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)






32. Sales - cost of goods sold






33. 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






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






35. 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






36. 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






37. 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.






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






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






40. Convert 10/11 to a percent






41. 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)






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






43. Convert 1.25 to a percent






44. Convert 70/100 to a percent






45. cash + receivables/ current liabilities.






46. Convert 50% to a fraction






47. The difference between the retail price and the cost of goods sold; it includes operating expenses - retail reductions - and profit






48. GMROII = GM% x (Sales / Average Value of Inventory)






49. Convert .4 to a percent






50. He availability of your money is called _.