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DSST Business Math
Start Test
Study First
Subjects
:
dsst
,
math
,
business-skills
,
business-math
,
bvat
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. Alignment of the decimals is not important
$ COST
profit
steps in strategic planning
when multiplying numbers that contain decimals:
2. Multiply the number by 1-the decrease proportion - e.g. 16(1-0.25) = 160.75 = 12 - 12 is a 25% decrease of 16
Break Even Point Formula
installment loan
To decrease a number by a given percentage - e.g. decrease 16 by 25%
Markup
3. The value of the inventory as kept in the handwritten ledgers or computer system; formula: book$ = merchandise available$ - NS$ - (MD$ + ED$)
book value
improper
% increase or decrease
36%
4. Convert 70/100 to a percent
Sell Thru %
70%
gross sales
$ Markdown
5. $ Markdown/ $ Net Sales (multiply result by 100 to express as percentage)
Markup
80/100
Markdown %
increase=debit
6. After all discounts have been applied to find net amount due. $100 -25% less trade discount -4% cash discount # + $20 freight!
With cash discounts and calculating net price - when to add freight
Retail
25%
increase=credit
7. A/b
Extremes
.7
Current Ratio
Multiplying Fractions
8. Net Sales / Average Retail Value of Inventory
improper
Inventory Turnover Rate
$252
Sales per Transaction
9. 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.
Markup
$ COST
net sales
DOI
10. 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...
operating expenses
Dividing Fractions
installment loan
1.304
11. ($ Retail x 100 / COST) - 100
Sell Thru %
book value
types of assets
Mark Up %
12. A/b
cost of goods sold formula (COGS)
Internal Rate of Return
Dividing Fractions
25%
13. Accounts payable - bonds - notes payable (bank loans) - provisions for pensions
Average Daily Sales
Subtracting Fractions
Multiplying Fractions
types of liabilities
14. Two equivalent ratios joined by an equal sign.
types of assets
increase=debit
Markdown %
Proportion
15. Rose borrowed money to buy a ring priced at $420. When she repaid the loan at the end of 3 months - the interest charge was $31.50. What was the rate of interest?
Subtracting Fractions
Current Ratio
overages
2.5% per month
16. Convert 41/100 to a percent
operating expenses
$2 -127.66
gross margin
41%
17. Wholesale cost
Markup
cost of goods
operating expenses
1.304
18. X=S*[1/(1+r)^n] Where: S=the sum to be received after n time periods X=the present value of that sum r=the rate of return (as a proportion) n=the number of time periods - r - rate - is sometimes called cost of capital
Average Collection Turnover
Sales per Transaction
underbought
Discounting Formula
19. Units Sold/ (Units Sold + On Hand Inventory)
20%
cost of goods sold formula (COGS)
Sell Thru %
operating expenses
20. If freight is to be paid by the seller - the shipping terms are...
FOB destination
GMROI
Adding Fractions
types of liabilities
21. Shortage$ = book$ - physical count$; shortage% = shortage$/NS$
income statement
20%
$6 -655.50
shortage
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
25%
Of what number 16 is a 25% increase
book value
Margin %
23. The average car payment is $_ per month for _ months.
Gross margin dollars
Markup
Adding Fractions
378 63
24. Convert 20 to a percent
20%
14/100
$ COST
types of capital
25. You should never take out more than a _ year mortgage.
Average Collection Turnover
15
$ Cost
Sales per Transaction
26. 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
14/100
Markdown %
Average Collection Turnover
types of expenses
27. cost of an item expressed per unit of measure or count.
Quick Ratio
types of incomes
Unit pricing
GMROI
28. Liabilities - capital - income
Simple interest formula
income statement
$ Retail
increase=credit
29. What is the product of 3.26 and 0.4?
1.304
$ Retail
loss
Markup
30. Another way of counting part of a whole?
36%
2.5% per month
25%
percent
31. What does percent mean?
Mark Up %
per hundred
Subtracting Fractions
costs of goods sold
32. Convert 70% to a decimal
overages
.7
types of incomes
Sell Thru %
33. Beginning inventory + Purchases - Ending inventory
Proportion
FOB destination
cost of goods sold formula (COGS)
$ Markdown
34. Convert 80% to a fraction
operating expenses
Average Collection Turnover
80/100
Effective annual rate of interest formula
35. A/b + c/b = (a+c)/b
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
$6 -655.50
types of incomes
Adding Fractions
36. Convert .36 to a percent
stock turn
Of what number 16 is a 25% increase
Mark Up %
36%
37. total fixed costs/ selling price-variable cost
Break Even Point Formula
.65
OTB (retail)
60
38. The point at which you stop losing money.
overages
increase=credit
Dividing Fractions
Break Even Point
39. He availability of your money is called _.
% increase or decrease
Liquidity
20%
types of liabilities
40. 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%
To decrease a number by a given percentage - e.g. decrease 16 by 25%
25
to determine equivalent single discount rate for 25/10/10 series discount
steps in strategic planning
41. (1+R)=(1+r)^n Where: R=the effective annual rate r=the period rate n=the number of periods
percent decrease
$ Retail
Effective annual rate of interest formula
4%
42. $ retail x (100%-markup)
cost of goods sold formula (COGS)
$ Cost
1.304
types of expenses
43. An electronics store is having a 40 percent off sale. Robert has been saving to purchase a stereo system that was originally priced at $420. If Robert purchases the system during the sale - what will be the cost?
Retail
$252
Mark Up %
.7
44. total annual sales/365
60
installment loan
types of assets
Average Daily Sales
45. Total Net Sales / Total Number of Transactions
Sales per Transaction
Subtracting Fractions
cost of goods sold formula (COGS)
Current Ratio
46. Planned Sales + Planned Markdowns + Planned EOM - Planned BOM
overbought
Proportion
OTB (retail)
Subtracting Fractions
47. Amount decrease (Original - New) / Original amount = decimal= convert to %
overbought
Average Collection Turnover
percent decrease
3%
48. Overage$ = book$ - physical count$; overage% = overage$/NS$
overages
.65
To find the number from which a percentage has been deducted to achieve it - e.g. of what number is 16 a 25% decrease?
Break Even Point
49. 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%
overbought
shrinkage
gross sales
underbought
50. A^m/a^n = a^(m-n)
$6 -655.50
When Dividing With Exponents
underbought
25
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