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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. Convert 50% to a fraction






3. $ retail x (100%-markup)






4. 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%






5. 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?






6. A/b + c/b = (a+c)/b






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






8. Sales - cost of goods sold






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






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






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






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






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






14. (Retail - Cost)/ Retail






15. 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%






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






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






18. 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






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






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






21. 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.






22. Total Net Sales / Total Number of Transactions






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






24. Convert 1.25 to a percent






25. Turning assets into cash.






26. current assets/ current liabilities






27. Convert 20 to a percent






28. What does percent mean?






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






30. Convert 1/4 to a percent






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






32. accounts receivable/ average daily sales






33. Convert 41/100 to a percent






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






35. Liabilities - capital - income






36. A/b






37. The point at which you stop losing money.






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






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






40. Convert 80% to a fraction






41. 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)






42. Another way of counting part of a whole?






43. total fixed costs/ selling price-variable cost






44. total annual sales/365






45. Two equivalent ratios joined by an equal sign.






46. Inside numbers in a ratio.






47. Net Sales / Average Retail Value of Inventory






48. Cash or assets that can quickly be converted into cash.






49. Convert 56% to a decimal






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