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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 65% to a decimal






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






3. What is the product of 3.26 and 0.4?






4. $ retail x (100%-markup)






5. Convert 80% to a fraction






6. Convert .36 to a percent






7. current assets/ current liabilities






8. (Retail - Cost)/ Retail






9. 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%






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






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






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






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






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






15. The wholesale cost of goods plus the markup






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






17. 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






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






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






20. 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






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






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






23. 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






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






25. Convert .4 to a percent






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






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






28. Convert 10/11 to a percent






29. 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)






30. What does percent mean?






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






32. Turning assets into cash.






33. Liabilities - capital - income






34. Another way of counting part of a whole?






35. Convert 14% to a fraction






36. Convert 41/100 to a percent






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






38. The value of the inventory as kept in the handwritten ledgers or computer system; formula: book$ = merchandise available$ - NS$ - (MD$ + ED$)






39. Sales - cost of goods sold






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






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






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






43. 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






44. Convert 50% to a fraction






45. $ Cost x (100 + Mark-up %) / 100






46. Assets - cost of goods sold - expenses






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






48. Convert 1.25 to a percent






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






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